Kraken plans to launch U.S. compliant Bitcoin perpetual contracts within the next 30 days

Cryptocurrency exchange Kraken stated that after the U.S. Commodity Futures Trading Commission (CFTC) approved Bitcoin spot-linked perpetual futures contracts, the company plans to launch regulated Bitcoin perpetual contract products for U.S. institutional clients within the next 30 days. Kraken mentioned that the related products will be available on its parent company Payward's recently acquired CFTC-regulated trading platform Bitnomial Exchange.

Previously, Payward announced in April that it would acquire the crypto derivatives platform Bitnomial for up to $550 million to expand its presence in the crypto derivatives market. Meanwhile, Coinbase also quickly followed suit after the CFTC approval, providing U.S. institutional clients with access to global crypto options and perpetual contract markets through its futures brokerage business. As the regulatory framework gradually clarifies, competition in the domestic U.S. crypto perpetual contract market is rapidly intensifying.

CFTC Chairman Michael Selig stated that the issue has never been whether crypto asset perpetual contracts will exist, but whether they will operate under U.S. regulation, U.S. standards, and the U.S. rule of law framework. Additionally, CFTC staff released guidance on 24/7 trading, clearing, and settlement on the same day, providing further regulatory support for around-the-clock trading of crypto derivatives.