Hyperliquid tests permissioned HIP-3* markets; Kraken parent plans regulated US perps
Payward intends to be the first CFTC-regulated deployer on Hyperliquid. The markets need regulatory approval, the feature is on testnet only, and there is no launch date.
· Announced · Verified 2026-10-30 via official announcement
Announced Oct 26, 2026: Hyperliquid tests permissioned HIP-3* markets; Kraken parent plans regulated US perps. Affects: US Kraken customers who want onchain perps (only once approvals are granted), and Hyperliquid market deployers and traders. Source: x.com, verified Oct 30, 2026.
Official site: kraken.com
Hyperliquid said on 26 October 2026 that Payward, the parent company of Kraken, intends to be the first CFTC-regulated deployer on HIP-3* markets, a new optional version of its builder-deployed perps that adds an onchain allowlist so only approved accounts can trade. The initial release is on testnet, and Hyperliquid says its specifications are preliminary and subject to change. Payward first announced the plan on 16 September 2026.
Under Payward's plan, Bitnomial, its CFTC-regulated exchange and clearinghouse, would create, own and administer the markets and clear and settle the contracts. NinjaTrader Clearing, a CFTC-registered futures commission merchant, would carry client accounts. A US client would open a futures account with Payward's registered broker and trade on Hyperliquid's onchain order book; only accounts onboarded by NinjaTrader and listed on both NinjaTrader's and Bitnomial's allowlists could trade.
Nothing is live for US traders yet. Payward says the listings are subject to regulatory approval and gives no launch date. Hyperliquid's own Terms of Use still list US persons as restricted, and Hyperliquid says HIP-3* is optional and leaves existing markets unchanged.
The plan is one of two announced routes to US-regulated Hyperliquid perps this week: on 29 October ICE and Trade[XYZ] announced a separate agreement, also pending approval.
“Payward, the parent company of Kraken, announced its intention to be the first CFTC-regulated deployer on HIP-3* markets.”
— Hyperliquid on X
Who this affects
US Kraken customers who want onchain perps (only once approvals are granted), and Hyperliquid market deployers and traders. Existing Hyperliquid markets are not changed.
Kraken at a glance
Kraken is a US-based custodial crypto exchange run by Payward, Inc., founded in San Francisco in 2011 and open to the public since September 2013. Instant buys and sells in the Kraken app carry a 1% fee plus a spread, while the Kraken Pro order book charges 0.40% maker and 0.80% taker at the entry tier.
Full Kraken sheet · 1.6% round trip · Also affects Hyperliquid
Official site: kraken.com
More from the newsroom
Sources
Last checked . Fees and terms change often; the venue's own page wins if it disagrees with ours.
- Hyperliquid on X - Payward intends to be first CFTC-regulated deployer on HIP-3* markets; initial release on testnet (2026-10-26) — checked 2026-10-30
- Payward - Payward Intends to Bring Onchain Perpetual Futures to US Clients, Starting on Hyperliquid (2026-09-16) — checked 2026-10-30
- The Block - Hyperliquid says Kraken parent Payward to be first CFTC-regulated HIP-3 deployer (2026-10-26) — checked 2026-10-30
- Hyperliquid Terms of Use, section 1.6 — checked 2026-10-30
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