{
  "version": 1,
  "event_id": "evt_b4441ecd86ea3150",
  "url": "https://xiyu.news/events/evt_b4441ecd86ea3150/",
  "json": "https://xiyu.news/api/events/evt_b4441ecd86ea3150.json",
  "type": "regulatory_action",
  "status": "monitoring",
  "category": "crypto",
  "title": {
    "zh": "Kraken母公司Payward计划在Hyperliquid上为美国客户提供链上永续合约",
    "en": "Kraken parent Payward plans onchain perpetuals for US clients on Hyperliquid - Cryptopolitan"
  },
  "current_state": {
    "zh": "Kraken的母公司Payward计划通过Hyperliquid平台向美国客户提供链上永续合约，目标是成为首家在Hyperliquid协议上部署市场的美国注册交易所。该计划依托Payward以5.5亿美元收购Bitnomial，后者将负责部署、管理、清算和结算这些拟议市场，而NinjaTrader Clearing将托管获批的客户账户。\n\n这将是把完全持牌于CFTC的美国衍生品基础设施与去中心化链上交易场所连接起来的最早具体尝试之一，有望让美国投资者接触到此前主要通过离岸平台才可获得的永续合约。若顺利推进，这将表明受监管的美国交易所对链上市场结构的看法正在转变，并可能推动其他美国交易平台开发类似的混合型产品。\n\n拟议市场被描述为“许可制”（permissioned），即访问权限受到限制，而非向任何Hyperliquid用户开放；其结构由Bitnomial负责部署与清算结算，NinjaTrader Clearing负责托管获批客户账户。Bitnomial的特殊之处在于其持有CFTC颁发的全部三项牌照，可运营完整的美国加密货币衍生品业务，这一资质来自Payward约5.5亿美元的收购交易。",
    "en": "Kraken parent Payward is reportedly planning to offer onchain perpetual futures to US clients through the Hyperliquid platform."
  },
  "first_seen_at": "2026-09-16T23:08:35.558730+00:00",
  "last_updated_at": "2026-09-16T23:08:35.558730+00:00",
  "last_material_change_at": "2026-09-16T23:08:35.558730+00:00",
  "confidence": 0.75,
  "updates_count": 1,
  "sources_count": 1,
  "entities": [
    "cryptopolitan",
    "hyperliquid",
    "kraken",
    "payward",
    "perpetuals"
  ],
  "identifiers": [],
  "topics": [
    "derivatives",
    "hyperliquid",
    "kraken",
    "perpetuals",
    "us-regulation"
  ],
  "updates": [
    {
      "update_id": "upd_94463bd77415b811",
      "event_id": "evt_b4441ecd86ea3150",
      "occurred_at": "2026-09-16T18:30:22Z",
      "published_at": "2026-09-16T18:30:22Z",
      "first_seen_at": "2026-09-16T23:08:35.558730Z",
      "time_precision": "published",
      "update_type": "initial",
      "material_change": true,
      "title_zh": "Kraken母公司Payward计划在Hyperliquid上为美国客户提供链上永续合约",
      "title_en": "Kraken parent Payward plans onchain perpetuals for US clients on Hyperliquid - Cryptopolitan",
      "what_changed_zh": "Kraken的母公司Payward计划通过Hyperliquid平台向美国客户提供链上永续合约，目标是成为首家在Hyperliquid协议上部署市场的美国注册交易所。该计划依托Payward以5.5亿美元收购Bitnomial，后者将负责部署、管理、清算和结算这些拟议市场，而NinjaTrader Clearing将托管获批的客户账户。\n\n这将是把完全持牌于CFTC的美国衍生品基础设施与去中心化链上交易场所连接起来的最早具体尝试之一，有望让美国投资者接触到此前主要通过离岸平台才可获得的永续合约。若顺利推进，这将表明受监管的美国交易所对链上市场结构的看法正在转变，并可能推动其他美国交易平台开发类似的混合型产品。\n\n拟议市场被描述为“许可制”（permissioned），即访问权限受到限制，而非向任何Hyperliquid用户开放；其结构由Bitnomial负责部署与清算结算，NinjaTrader Clearing负责托管获批客户账户。Bitnomial的特殊之处在于其持有CFTC颁发的全部三项牌照，可运营完整的美国加密货币衍生品业务，这一资质来自Payward约5.5亿美元的收购交易。",
      "what_changed_en": "Kraken parent Payward is reportedly planning to offer onchain perpetual futures to US clients through the Hyperliquid platform.",
      "current_state_zh": "Kraken的母公司Payward计划通过Hyperliquid平台向美国客户提供链上永续合约，目标是成为首家在Hyperliquid协议上部署市场的美国注册交易所。该计划依托Payward以5.5亿美元收购Bitnomial，后者将负责部署、管理、清算和结算这些拟议市场，而NinjaTrader Clearing将托管获批的客户账户。\n\n这将是把完全持牌于CFTC的美国衍生品基础设施与去中心化链上交易场所连接起来的最早具体尝试之一，有望让美国投资者接触到此前主要通过离岸平台才可获得的永续合约。若顺利推进，这将表明受监管的美国交易所对链上市场结构的看法正在转变，并可能推动其他美国交易平台开发类似的混合型产品。\n\n拟议市场被描述为“许可制”（permissioned），即访问权限受到限制，而非向任何Hyperliquid用户开放；其结构由Bitnomial负责部署与清算结算，NinjaTrader Clearing负责托管获批客户账户。Bitnomial的特殊之处在于其持有CFTC颁发的全部三项牌照，可运营完整的美国加密货币衍生品业务，这一资质来自Payward约5.5亿美元的收购交易。",
      "current_state_en": "Kraken parent Payward is reportedly planning to offer onchain perpetual futures to US clients through the Hyperliquid platform.",
      "detailed_summary_zh": "Kraken parent Payward is reportedly planning to offer onchain perpetual futures to US clients through the Hyperliquid platform.",
      "detailed_summary_en": "Kraken parent Payward is reportedly planning to offer onchain perpetual futures to US clients through the Hyperliquid platform.",
      "background_zh": "永续合约是没有到期日的期货合约，通过定期支付资金费率来锚定现货价格，是加密货币中交易量最大的品种。Hyperliquid是一个运行在自主构建的Layer 1区块链上的去中心化永续合约交易所，其设计目标是在链上结算的同时提供接近中心化交易所的性能。自2022年美国本土平台在监管压力下退出该业务以来，美国散户基本被挡在加密永续合约之外，市场主要由离岸交易平台主导。",
      "background_en": "Perpetual futures are futures contracts with no expiry date that are kept anchored to spot prices through periodic funding payments, and they are the most heavily traded instrument in crypto. Hyperliquid is a decentralized perpetuals exchange running on its own purpose-built Layer 1 blockchain, designed to offer performance closer to a centralized exchange while settling activity onchain. US retail traders have been largely shut out of crypto perpetuals since domestic platforms withdrew from the segment under regulatory pressure in 2022, leaving offshore venues to dominate the market.",
      "community_discussion_zh": "",
      "community_discussion_en": "",
      "market_impact_zh": "最直接的传导渠道是围绕Hyperliquid及其HYPE代币的情绪与流动性：一家大型美国交易所将受监管的衍生品业务引入该协议，会提升市场对其交易量和手续费收入增长的预期，不过“许可制”设计限制了这部分活动有多少会真正进入公开的链上订单簿。更广泛地看，受监管的美国永续合约通道会影响到离岸衍生品交易场所的竞争地位以及链上交易基础设施的监管合法性，其中衍生品成交量和资金费率环境是最直接受影响的细分领域。",
      "market_impact_en": "The clearest transmission channel is sentiment and liquidity around Hyperliquid and its HYPE token, since a major US exchange routing regulated derivatives activity onto the protocol would raise expectations of deeper volume and fee generation, though the permissioned design limits how much of that activity reaches the public onchain orderbook. More broadly, a licensed US route into perpetuals touches the competitive position of offshore derivatives venues and the regulatory legitimacy of onchain trading infrastructure, with derivatives volumes and funding conditions being the segments most directly affected.",
      "importance_score": 7.5,
      "references": [
        {
          "url": "https://bitnomial.com/news/2026-05-01/payward-completes-acquisition-bitnomial/",
          "title": "Bitnomial - Payward Completes Acquisition of Bitnomial, the First..."
        },
        {
          "url": "https://www.theblock.co/post/399851/kraken-parent-payward-completes-bitnomial-acquisition",
          "title": "Kraken parent Payward completes Bitnomial acquisition... | The Block"
        },
        {
          "url": "https://www.blocmates.com/articles/a-complete-guide-to-hyperliquid",
          "title": "What Is Hyperliquid? A Beginner's Guide | Hyperliquid... | blocmates"
        }
      ],
      "confidence": 0.75,
      "story_ids": [
        "google_news:article:7ab7b98d24518961"
      ],
      "sources": [
        {
          "url": "https://news.google.com/rss/articles/CBMifEFVX3lxTE9raVVneElpR0ppSkl4TUN2NW5jbFhlZWpGcDZWaXVLaDRNYklzVTV0VDE1OUxPYmo3LXJTZDVwcnRnMFp6dTBsNWUxbXBBTHRkSjhreEVoMUM4bURoSzJlODhPWndDbkhtcE16V2N0LXRzMFlIejdQaU5PNkM?oc=5",
          "label": "Cryptopolitan",
          "source_type": "google_news",
          "official": false
        }
      ]
    }
  ]
}