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      Hyperliquid Labs in Talks with Kraken Parent for U.S. Perpetual Futures

      Hyperliquid Labs is reportedly in advanced discussions with Payward, the parent company of Kraken, to introduce its perpetual futures to U.S. traders. This potential agreement, which is still unconfirmed, would allow U.S. traders to utilize Payward's Bitnomial exchange for trading perpetual futures linked to the prices of crypto tokens developed on Hyperliquid's blockchain. However, the deal is contingent upon regulatory approval.

      Bitnomial, which Payward announced plans to acquire in April, is a regulated derivatives entity that holds U.S. derivatives licenses for an exchange, clearinghouse, and brokerage. The Commodity Futures Trading Commission designated Bitnomial Exchange as a contract market in 2020. Kraken has previously indicated that Bitnomial would play a key role in its U.S. perpetual futures offerings, with products expected to be available through Kraken Pro and NinjaTrader Clearing, a CFTC-registered futures commission merchant.

      While Hyperliquid's documentation outlines a system for permissionless perpetual markets known as HIP-3, the specifics of its implementation in relation to the talks with Payward remain unverified. Observations of Hyperliquid's testnet features have been made, but these do not confirm Kraken's involvement or the integration of HIP-3 in the proposed deal. As it stands, Bitnomial remains the primary regulated venue in the discussions, pending necessary regulatory sign-offs.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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