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Hyperliquid says Kraken parent Payward to be first CFTC-regulated HIP-3 deployer

Hyperliquid plans to make Kraken parent Payward the first CFTC-regulated HIP-3 deployer, a step toward regulated U.S. perpetual futures.

By DeFi Tools Guide Editorial Team · Published Oct 26, 2026, 5:38 PM UTC · Updated 2026-10-26 · Risk level: medium
Sources checked: Oct 26, 2026, 7:11 PM UTC

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What happened

Hyperliquid plans to make Kraken parent Payward the first CFTC-regulated HIP-3 deployer, a step toward regulated U.S. perpetual futures.

Reported details

  • Payward’s move could reshape US derivatives trading by integrating blockchain with regulatory compliance, potentially influencing global market dynamics.
  • The launch could boost Hyperliquid’s market credibility and interest, but hinges on regulatory approval impacting future market dynamics.
  • Payward, Kraken’s parent company, is set to become the first CFTC-regulated HIP-3* deployer, potentially reshaping crypto derivatives.
  • Hyperliquid has outlined Payward’s plan to become its first CFTC-regulated HIP-3* market deployer, with Kraken’s parent seeking to offer onchain perpetual futures to US clients through Bitnomial, subject to regulatory approval. Hyperliquid said in an Oct. 26 X post that…

Why this matters

Hyperliquid sits on the regulatory side rather than the structural side: the useful question is which dated rule, if any, follows this notice, and who wrote it. A rule that is not published yet changes nothing about who may act today, so treat the pending text as pending rather than as settled.

Evidence boundary

On Hyperliquid, the scope is limited to what the linked 4 reports state, and where they diverge both positions are recorded without either being picked in advance; the rule text itself is what to check first.

What to verify

Before acting on Hyperliquid, read the dated rule text itself rather than a summary of it, and note which agency wrote it and whether the comment period is still open.

Sources and editorial check time

This information is educational and is not financial, legal, or tax advice.

Sources