Payward Plans Regulated Crypto Futures on Hyperliquid Infrastructure

The initiative hinges on a controlled environment where trades are executed via Hyperliquid’s public order book, yet participation is strictly gated. Under the proposed model, Bitnomial Exchange would deploy and administer the markets, while NinjaTrader Clearing would manage the onboarding of U.S. customers. Access would be restricted to pre-approved accounts included on a specific on-chain allowlist, ensuring that only verified participants can engage with the protocol.

This structure builds upon Payward’s recent efforts to formalize its U.S. derivatives business. By leveraging the HIP-3 permissioning feature, the company aims to satisfy regulatory requirements while utilizing the speed and transparency of blockchain-based execution. Bitnomial, which Payward acquired earlier this year, remains the central component of this strategy, holding the necessary registrations as a designated contract market and a derivatives clearing organization. While the proposal has been presented for regulatory review, no launch date has been set, and the markets remain subject to final approval by the Commodity Futures Trading Commission.