BREAKING: Kraken Parent Payward Confirms Bringing Hyperliquid Perps to US, HYPE Price Surges

Payward, the parent company of crypto exchange Kraken, on Wednesday confirmed it intends to deploy onchain perpetual futures markets for US clients, starting with Hyperliquid HIP-3 markets. As a result, HYPE price jumped more than 3% within hours.

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Kraken Parent Announces Hyperliquid Perpetual Futures Launch

In an official announcement on September 16, Kraken’s parent firm revealed deployment of onchain perpetual futures markets for U.S. clients, starting with Hyperliquid HIP-3 builder-deployed permissioned markets.

Bitnomial, Payward’s CFTC-regulated exchange and clearinghouse, would create, own, and administer the markets and settle the contracts. Payward’s NinjaTrader Clearing would carry client accounts. Only allowlisted accounts onboarded through Payward’s registered broker could trade on the markets.

“Payward intends to be the first, holding the keys and carrying the regulatory obligations. Our open rails serve clients in more than 190 countries and territories and enable the next protocol, region and product,” said Arjun Sethi, Co-CEO of Payward.

“We already list our own US perpetuals and intend to deploy on Hyperliquid as well, putting clients first, not ourselves,” he added.

As CoinGape reported earlier, Payward and Hyperliquid Labs were in advanced talks to bring selected crypto perpetual futures to US traders. Kraken parent outlined the basic structure of the potential partnership to the CFTC. Regulatory review remains a central requirement for any planned launch.

Moreover, President Donald Trump earlier commented that regulators were working to bring Hyperliquid onshore. It helped drive HYPE price to record highs near $89 in early September.

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HYPE Price Jumps Sharply

HYPE jumped after Kraken parent Payward’s announcement about Hyperliquid, expanding the rebound from a 24-hour low to more than 4% in the past 24 hours. The intraday low and high are $75.27 and $79.72, respectively.

Furthermore, trading volume has increased by almost 30% over the last 24 hours, indicating a rise in interest among traders. Notably, Hyperliquid Policy Center filed an amicus brief supporting the CFTC in its decision to allow perpetuals futures in a federal lawsuit brought by CME Group.

CoinGlass data showed massive buying in the derivatives market in the last few hours. At the time of writing, the total HYPE futures open interest jumped almost 2.50% to $2.92 billion in the last 4 hours.

The 24-hour HYPE futures OI on Binance climbed 7% and more than 1% on OKX and Bybit. This signals bullish sentiment among derivatives traders. Analysts believe HYPE price can hit $100 in the coming days.