Payward plans US perps after $550M Bitnomial deal

• Payward, Kraken’s parent company, has announced plans to offer US clients perpetual futures on Hyperliquid.
• The contracts will use Hyperliquid’s public blockchain and require approval from US regulators before launch.
• Payward has positioned the move through its $550 million Bitnomial acquisition and CFTC-regulated infrastructure.

Payward has announced plans to offer US clients onchain perpetual futures through Hyperliquid (CRYPTO:HYPE), subject to regulatory approval.

The proposed markets will use Hyperliquid’s public blockchain, while Bitnomial Exchange will create and administer the contracts.

“Payward intends to be the first, holding the keys and carrying the regulatory obligations,” said Payward Co-CEO Arjun Sethi.

Payward will use Bitnomial for market operations and clearing, while NinjaTrader Clearing will carry approved US client accounts.

The company has not disclosed a launch date, with the contracts requiring approval before they can begin trading under Bitnomial Exchange rules.

Payward completed its $550 million acquisition of Bitnomial as it expanded its regulated US derivatives infrastructure.

Payward is privately held, so there is no public share price available for a market-reaction sign-off, while the company has said Hyperliquid is its first planned onchain deployment for US clients.

At the time of reporting, Hyperliquid price was $78.35.