{"id":78289,"date":"2026-09-17T08:37:08","date_gmt":"2026-09-17T08:37:08","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/kraken-parent-payward-to-launch-us-onchain-perpetuals\/"},"modified":"2026-09-17T08:37:08","modified_gmt":"2026-09-17T08:37:08","slug":"kraken-parent-payward-to-launch-us-onchain-perpetuals","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/kraken-parent-payward-to-launch-us-onchain-perpetuals\/","title":{"rendered":"Kraken Parent Payward to Launch US Onchain Perpetuals"},"content":{"rendered":"<p><b>(Originally posted on : Bitcoin News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"@container mb-[25px] rounded-sm overflow-clip py-0.5 pr-0.5 pl-2.5 bg-success-100\">\n<div class=\"flex flex-col gap-m overflow-clip rounded-[6px] !bg-success-10 p-3 @[420px]:p-m\">\n<h2 class=\"m-0 flex items-center gap-s text-[19px] !text-[#1c1c1c] md:text-[20px]\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"10\" viewbox=\"0 0 16 10\" fill=\"none\" class=\"shrink-0 text-success-100\" aria-hidden=\"true\"><path d=\"M1 1.5h14\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><path d=\"M1 8.5h10\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><\/svg><span>Key Takeaways<\/span><\/h2>\n<ul class=\"m-0 flex list-none flex-col gap-m pl-0\">\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Payward announced plans to launch U.S. onchain perpetual futures markets on the Hyperliquid protocol.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Global crypto perpetuals reached $85 trillion in 2025, but U.S. traders lacked CFTC-regulated onchain options.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Bitnomial and Ninjatrader Clearing will manage U.S. trading compliance, pending 2026 regulatory approval.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<h2>Regulatory framework and oversight<\/h2>\n<p>Payward, the parent company of cryptocurrency exchange Kraken, announced Sept. 16 its plans to deploy onchain <a href=\"https:\/\/markets.bitcoin.com\/glossary\/perpetuals?_gl=1*1iigtb2*_gcl_au*OTk5NTQzMjAuMTc4OTMyOTIwMQ..*_ga*MTU3OTQwMTMwLjE3NzM3NjQ2MDc.*_ga_ERLPF60ZDD*czE3ODk1ODg5MzUkbzc2NiRnMSR0MTc4OTU4OTUwNiRqNjAkbDAkaDA.\" target=\"_blank\" rel=\"noopener noreferrer\">perpetual futures<\/a> markets for U.S. clients through the decentralized trading protocol Hyperliquid. The initiative, which remains subject to regulatory approval, will start with Hyperliquid\u2019s HIP-3 markets, the protocol\u2019s first builder-deployed permissioned perpetual markets.<\/p>\n<p>Under <a href=\"https:\/\/www.payward.com\/press-release\/payward-hyperliquid-onchain-perpetual-futures\" target=\"_blank\" rel=\"noopener noreferrer\">the proposed arrangement<\/a>, transactions will run on Hyperliquid\u2019s public blockchain, utilizing its onchain order book to match and record trades. Payward subsidiaries will manage the regulatory and administrative oversight. Bitnomial Exchange, a designated contract market regulated by the Commodity Futures Trading Commission (CFTC), will act as the market deployer and administrator.<\/p>\n<p>Bitnomial Clearinghouse, which was <a href=\"https:\/\/news.bitcoin.com\/kraken-parent-payward-enters-550m-deal-to-acquire-bitnomial-accelerating-regulated-us-crypto-derivatives-push\/\">acquired by Payward<\/a> earlier this year, will clear and settle the contracts, while CFTC-registered futures commission merchant Ninjatrader Clearing will carry client accounts. Access to trading will be restricted to clients onboarded by Ninjatrader and approved on allowlists maintained by both Bitnomial and Ninjatrader.<\/p>\n<p>\u201cA U.S. client would open a futures account with Payward\u2019s registered broker and trade new perpetual futures contracts on Hyperliquid, cleared through the same clearinghouse that already supports the crypto perpetual contracts Payward offers U.S. clients today,\u201d said Jon Pham, head of U.S. derivatives at Payward.<\/p>\n<p>Perpetual futures have been widely traded outside the U.S. since 2016, with global trading volume exceeding $85 trillion in 2025, according to <a href=\"https:\/\/www.coingecko.com\/research\/publications\/state-of-crypto-perpetuals-report-2026\" target=\"_blank\" rel=\"noopener noreferrer\">Coingecko\u2019s 2026 State of Crypto Perpetuals Report<\/a>. However, U.S. access to such products has been limited by regulatory restrictions.<\/p>\n<p>\u201cMultiple venues run builder-deployed perpetuals on Hyperliquid. One holds 98 percent of their open interest, and no registered U.S. exchange or clearinghouse has deployed a market there,\u201d said Arjun Sethi, co-CEO of Payward. \u201cPayward intends to be the first, holding the keys and carrying the regulatory obligations.\u201d<\/p>\n<p>Hyperliquid, launched in 2023, has recorded more than $200 billion in <a href=\"https:\/\/news.bitcoin.com\/defi-perp-protocol-hyperliquid-hits-21b-in-daily-volume-bolstered-by-trump-and-melania-listings\/\">trading volume<\/a> over the past 30 days, according to data from Defillama. Calvin Leyon, head of onchain at Kraken, noted that the integration demonstrates how decentralized infrastructure can adapt to meet regulated market requirements.<\/p>\n<p>Payward stated that Hyperliquid is the first protocol it plans to deploy on for U.S. clients, with plans to expand additional products through its existing infrastructure. If approved by regulators, the new on-chain perpetual futures contracts will be listed under the rules of Bitnomial Exchange.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/news.bitcoin.com\/crypto-news\/kraken-parent-payward-to-launch-us-onchain-perpetuals\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Bitcoin News ) Key Takeaways Payward announced plans to launch U.S. onchain perpetual futures markets on the Hyperliquid protocol. Global crypto perpetuals reached $85 trillion in 2025, but U.S. traders lacked CFTC-regulated onchain options. Bitnomial and Ninjatrader Clearing will manage U.S. trading compliance, pending 2026 regulatory approval. Regulatory framework and oversight [&hellip;]<\/p>\n","protected":false},"author":10,"featured_media":78290,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[32],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/78289"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=78289"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/78289\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/78290"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=78289"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=78289"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=78289"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}