Hyperliquid Selects Kraken Parent Payward as First Regulated HIP-3 Deployer

regulated HIP-3 deployer — The layer-1 perpetual futures platform Hyperliquid has announced that Kraken‘s parent company, Payward, will be the first CFTC-regulated deployer of its HIP-3 infrastructure, marking a step toward offering regulated crypto derivatives in the United States.

Under the planned arrangement, Payward Ventures will deploy and manage the Hyperliquid Improvement Proposal 3 (HIP-3) technology. This system is designed to allow for the creation of on-chain perpetual futures markets that operate within the regulatory oversight of the Commodity Futures Trading Commission (CFTC).

HIP-3 is a core piece of Hyperliquid’s architecture intended to bridge decentralized finance (DeFi) with regulated financial markets. By partnering with a CFTC-regulated entity like Payward, Hyperliquid aims to offer U.S. users access to its perpetual swaps platform under a compliant framework.

The move represents a significant strategic effort to navigate the complex U.S. regulatory landscape for crypto derivatives. While decentralized perpetuals markets exist, they typically operate outside direct CFTC oversight, limiting access for many institutional and retail participants in the U.S. market.