Payward, Kraken's parent company, plans to bring compliant onchain perpetual futures to US clients, using builder-deployed markets on the Hyperliquid blockchain through its CFTC-regulated entities.
Rather than build a venue from scratch, Payward will tap Hyperliquid's builder-deployed markets, a model that lets outside teams spin up perp markets on the network while routing through Kraken's regulated US wrappers. Hyperliquid has grown into one of the largest onchain perpetuals venues by volume, and the tie-up gives US traders a compliant path to that liquidity. Payward is pursuing the rollout through CFTC-regulated entities, positioning the offering inside existing US derivatives rules.
The plan puts Kraken among a growing set of regulated players racing to plug into onchain derivatives, as brokers and exchanges look to meet perp demand without stepping outside US compliance.
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