TREE NEWS update: Payward, the parent company of Kraken, plans to become the first CFTC-regulated HIP-3 deployer on Hyperliquid, offering perpetual futures to US customers. Under the arrangement, Bitnomial will deploy and manage the markets and clear and settle contracts, while NinjaTrader Clearing will carry client accounts. Hyperliquid said the HIP-3* extension adds an on-chain whitelist so licensed institutions can verify customer identities and control trading access, while existing markets remain unchanged.
Kraken parent Payward to run first CFTC-regulated Hyperliquid HIP-3 market
AI take
This marks a notable step in bridging offshore-style perpetuals with US regulatory oversight, using Hyperliquid's HIP-3 whitelist to let licensed institutions gate access rather than relying on the permissionless model. It matters most for US traders previously excluded from such venues and for the compliance stack—Bitnomial and NinjaTrader Clearing—that makes the structure workable. The open question is whether this regulated deployer model becomes a template for other venues, or remains a one-off arrangement.
Generated by AI for reference only.
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