- Kraken expects to launch CFTC-regulated perpetual futures contracts in the US within 30 days.
- The launch will follow Payward’s $550 million acquisition of the derivatives platform Bitnomial.
- This move is part of a broader regulatory push to bring crypto derivatives trading “onshore” under U.S. oversight.
Kraken announced late Friday that it plans to launch CFTC-regulated perpetual futures contracts for U.S. traders within the next month, hours after the Commodity Futures Trading Commission approved the instruments. The contracts will be listed on the newly acquired, CFTC-regulated Bitnomial Exchange.
However, while Kraken’s announcement said a filing had been submitted, no specific filing was found among Bitnomial’s recent CFTC filings as of Sunday. Consequently, the race to lead in the newly regulated U.S. market intensified as Coinbase Financial Markets also swiftly offered institutional clients access to perpetual futures via its acquired platform, Deribit.
Meanwhile, CFTC chair Michael Selig said the question was whether these contracts would exist “under American oversight, American standards and American rule of law.” This regulatory shift follows a September joint statement from the SEC and CFTC exploring ways to bring perpetual futures trading onshore.
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