Payward, Kraken’s parent company, plans to offer perpetual futures to eligible U.S. clients through permissioned markets on Hyperliquid. The markets cannot launch without regulatory approval, and Hyperliquid must first add the required permissioning feature. The proposal would not give U.S. traders unrestricted access to Hyperliquid’s existing markets.
Under the plan, Bitnomial would administer the markets and handle clearing and settlement through its regulated entities, while NinjaTrader Clearing would maintain customer accounts. Hyperliquid says the HIP-3* feature would be optional and leave existing markets unchanged. An initial version is on testnet, but its specifications may change; no launch date, contract lineup or final trading specifications have been announced.
