Payward, the parent company of the Kraken exchange, has filed an application to introduce single-stock perpetual futures for traders in the United States. The proposed product aims to bring the mechanics of crypto-style derivatives to traditional equities, allowing for leveraged positions without expiration dates.
The service is expected to launch with 10 underlying stocks and will feature 24/5 trading hours. This schedule is designed to allow participants to react to global events and earnings reports in real time, bypassing the limitations of standard US stock market hours.
Specific details regarding leverage limits, the list of available stocks, and the launch timeline remain undisclosed as they are currently subject to regulatory review by the Commodity Futures Trading Commission (CFTC).
The initiative utilizes infrastructure gained through the acquisition of Bitnomial in May 2026 for up to $550 million. Bitnomial holds licenses as both a designated contract market and a clearinghouse, which previously enabled Kraken to launch crypto perpetual futures in June 2026.
Kraken currently offers similar equity-linked products under its xStocks framework in over 110 countries outside the US. Competitors such as Coinbase and Crypto.com have also initiated efforts to provide equity-linked perpetual products to American clients.
