Kraken HIP-3: Hyperliquid Officially Backs Kraken’s Parent for US Perps

Kraken HIP-3 is the short name for a plan that just got real. On October 26, Hyperliquid named Payward, Kraken’s parent company, as its intended first CFTC-regulated deployer on HIP-3*. In plain terms, Payward wants to run US-regulated perp markets that match trades on Hyperliquid’s onchain order book. However, there is still no regulatory approval, no launch date and no HIP-3* mainnet. We first covered this story in August, when Bloomberg broke the talks. That first chapter lives in our Hyperliquid Bitnomial deal post. Since then, the plan has gone from rumor to press release to an official co-sign.