Hyperliquid unveils HIP-3* to support regulated US perpetual futures through Payward

Kraken's parent company plans to become the first CFTC regulated deployer on Hyperliquid, potentially opening the network's derivatives infrastructure to US traders. Hyperliquid has outlined plans to introduce permissioned perpetual futures markets through its HIP-3* framework, with Kraken parent Payward intending to become the first CFTC regulated deployer to offer the products to US customers. Under the proposed arrangement, Payward would use Hyperliquid as the underlying blockchain infrastructure, while its CFTC regulated exchange and clearinghouse Bitnomial would create, administer, clear and settle the perpetual futures contracts. NinjaTrader Clearing, Payward’s registered futures commission merchant, would manage customer accounts. The proposed offering remains subject to regulatory approval. The announcement briefly pushed Hyperliquid’s native token HYPE above $80 before it retreated to approximately $79.65 at press time.

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