Payward, the parent company of crypto exchange Kraken, plans to offer Hyperliquid perpetual futures to US clients, according to a statement reported by Bloomberg Law on Wednesday.
Payward said it intends to deploy perpetual futures markets that run on Hyperliquid’s public blockchain. The company did not disclose when the products could launch and declined to comment on whether it has held discussions with US regulators about the planned offering.
Hyperliquid is widely used for trading perpetual futures, or “perps,” which allow traders to maintain leveraged cryptocurrency positions without the expiration dates associated with conventional futures contracts.
The planned expansion would connect Payward’s US customer base with perpetual futures markets built around Hyperliquid’s blockchain. The development comes as crypto exchanges and derivatives platforms expand regulated access to perpetual futures for US traders.
Payward has already been expanding its US derivatives business. Kraken said in May that its parent company had filed plans for perpetual futures to be listed on Bitnomial, a Commodity Futures Trading Commission-regulated exchange acquired by Payward.
Kraken currently offers Hyperliquid (HYPE) futures through Kraken Pro. Its US customers can trade fixed-term HYPE futures through Kraken Derivatives US, while eligible customers outside the US can access HYPE/USD perpetual futures.
The latest plan is separate from simply giving US traders direct access to Hyperliquid's decentralized exchange. Earlier reports said Payward's subsidiary Bitnomial could provide regulated infrastructure for US users seeking access to perpetual contracts tied to crypto assets associated with Hyperliquid's blockchain. Regulatory approval was still pending at the time of those reports.