Kraken’s Parent Company Is Bringing U.S. Perps to Hyperliquid .@krakenfx parent company Payward is bringing on-chain perpetual futures to U.S. customers through @HyperliquidX. The important part isn’t just Kraken entering on-chain perps. It’s that Hyperliquid is becoming the infrastructure where a registered U.S. exchange and clearinghouse can deploy a market. The setup: • Payward provides access to U.S. customers • @Bitnomial deploys and clears the HIP-3 market • NinjaTrader Clearing hosts customer accounts • Hyperliquid provides the on-chain perpetuals infrastructure Payward says this will be the first registered U.S. exchange and clearinghouse to deploy a market on Hyperliquid. That makes HIP-3 particularly interesting. Hyperliquid is no longer only competing with CEXs for crypto-native traders. Its infrastructure is starting to connect with regulated U.S. market participants. If this model scales, Hyperliquid could become more than a place to trade perps. It could become the on-chain market infrastructure layer for regulated derivatives.