Payward announced on September 16, 2026, plans to offer U.S. clients access to onchain perpetual futures markets beginning with Hyperliquid HIP-3 markets, subject to regulatory approval. The proposal would involve Bitnomial’s exchange, clearing and account-carrying operations, with contracts trading on Hyperliquid’s public blockchain. According to CoinDesk, the proposed contracts would operate under Bitnomial’s CFTC-regulated rules; no launch date, fee schedule or projected trading volume has been disclosed.
Bitnomial’s regulated stack would sit between U.S. clients and Hyperliquid
Payward outlined a three-entity structure for Hyperliquid markets: Bitnomial Exchange would deploy, own and administer them, Bitnomial Clearinghouse would clear and settle the contracts, and NinjaTrader Clearing would carry client futures accounts. The markets themselves would trade on Hyperliquid’s public blockchain.
Prospective clients would need approval on both the NinjaTrader and Bitnomial allowlists, although Payward gave no further detail on the process or timing. The initial focus would be Hyperliquid HIP-3 markets; CoinDesk reported that launch timing, fees and expected volume were also undisclosed, and the proposal remains subject to regulatory approval.
The Bitnomial acquisition supplied Payward’s derivatives infrastructure
Payward completed its acquisition of Bitnomial on May 1, 2026. Through the transaction, Payward gained a U.S. derivatives stack comprising a futures commission merchant, a designated contract market and a derivatives clearing organization, according to Bitnomial. The acquisition supplied Payward with the infrastructure it intends to use for the proposed U.S. offering, rather than requiring the market to rely solely on a blockchain-based trading venue.
For the proposed Hyperliquid offering, Bitnomial Exchange is slated to administer the markets, Bitnomial Clearinghouse to clear and settle contracts, and NinjaTrader Clearing to carry client futures accounts; according to CoinDesk, Payward has not disclosed a launch date for the product.
Bitnomial has already pursued a regulated Hyperliquid-linked listing
The perpetual-futures proposal is not Bitnomial’s first disclosed regulated-market activity connected to Hyperliquid. On April 22, 2026, Bitnomial filed with the Commodity Futures Trading Commission to list a Hyperliquid HYPEUSD spot contract, with an intended trade date on or after April 24, according to the CFTC filing.
Bitnomial’s earlier filing was for a HYPEUSD spot contract, whereas Payward’s September plan begins with onchain perpetual futures in HIP-3 markets. They are separate product efforts, but both connect Bitnomial’s regulated-market activity to Hyperliquid.
For the new proposal, the next disclosed milestones remain regulatory approval and the operating details that Payward and Bitnomial have yet to publish, including a launch date and fee schedule.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.