Kraken plans to launch US-compliant Bitcoin perpetual contracts within the next 30 days.

ChainCatcher reports that cryptocurrency exchange Kraken announced plans to launch regulated Bitcoin perpetual contracts to US institutional clients within the next 30 days, following the Commodity Futures Trading Commission's (CFTC) approval of Bitcoin spot-linked perpetual futures contracts. Kraken stated that the products will be listed on Bitnomial Exchange, a CFTC-regulated exchange recently acquired by its parent company, Payward. Previously, Payward announced in April its acquisition of crypto derivatives platform Bitnomial for up to $550 million to expand its presence in the crypto derivatives market. Meanwhile, Coinbase quickly followed suit after CFTC approval, offering US institutional clients access to the global crypto options and perpetual contract market through its futures brokerage business. With the regulatory framework becoming clearer, competition in the US crypto perpetual contract market is rapidly intensifying. CFTC Chairman Michael Selig stated that the question has never been whether crypto asset perpetual contracts will exist, but rather whether they will operate within the framework of US regulation, US standards, and the rule of law. In addition, CFTC staff released guidance on 24/7 trading, clearing and settlement on the same day, providing further regulatory support for 24/7 trading of crypto derivatives.