Payward to Launch On-Chain Perpetual Futures on Hyperliquid in US

Payward, the parent company of Kraken, announced it will deploy an on-chain perpetual futures market for U.S. customers on June 17th. The initial offering will be Hyperliquid's HIP-3 market, which is the first permissioned perpetual futures market deployed by builders within that protocol. Payward has operated an open finance infrastructure since 2011, serving over 190 countries and regions.

As of June 30, 2026, there were over six million accounts with funds deposited, supported by a proof of reserves verified by independent third-party auditors showing customer assets are fully backed at over 100%.

Payward co-CEO Arjun Sethi stated: 'Multiple trading platforms operate permissioned perpetual futures on Hyperliquid, one holding 98% of open interest. No registered U.S. exchange or clearinghouse has deployed a market yet. Payward aims to be the first business to hold core control and directly bear regulatory obligations.'

The market will run on Hyperliquid's public blockchain, with on-chain order books matching and recording trades. Bitnomial, Payward's CFTC-regulated exchange and clearinghouse, will act as the HIP-3 deployer, creating, owning, and managing the market while handling contract settlement. NinjaTrader Clearing, Payward's CFTC-registered futures broker, will manage customer accounts.

Payward U.S. derivatives head John Pam said: 'U.S. customers will open futures accounts through Payward’s registered broker and trade new perpetual contracts on Hyperliquid, settled via the same clearinghouse supporting existing Payward offerings.'

Hyperliquid CEO Calvin Rayon added: 'Since launch, Hyperliquid has expanded the boundaries of on-chain finance. This latest development shows how decentralized infrastructure can adapt to regulated markets, offering innovative, compliant products globally.'