Original sourceTradeTechEye
Summary
Kraken parent Payward plans to launch regulated on-chain perpetual contracts for US clients via the Hyperliquid protocol, operating under a CFTC-regulated multi-entity structure: market deployment and settlement handled by CFTC-regulated Bitnomial exchange and clearinghouse, client accounts managed…
Key points
- It demonstrates how on-chain derivatives can enter the US market under a multi-entity compliance structure, serving as an important reference case for product design and compliance pathways.
- If regulated on-chain perpetual contracts successfully launch, they will provide a compliant entry for US users and change the competitive structure between offshore and onshore derivatives markets.
- US traders can access on-chain perpetual contracts through compliant accounts, but must accept whitelist onboarding, reserve audits, and federal supervision; developers can reference this multi-entity architecture when designing products.
Editorial note
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