Arjun Sethi

Payward selected Hong Kong as its Asian stablecoin gateway due to its multi-currency advantages and regulatory clarity, aiming to help businesses reduce costs, mitigate risks, and expand into emerging markets. The decision leverages Hong Kong's historical role as an international business hub, as highlighted by Payward Co-CEO Arjun Sethi.

Payward selected Hong Kong as its Asian stablecoin gateway due to the city's multi-currency advantages and regulatory clarity, enabling businesses to reduce costs, mitigate risks, and expand into emerging markets. Arjun Sethi, Co-CEO of Payward, highlighted Hong Kong's historical role as an international business hub as a key factor in this decision.

Kraken has launched CFTC-regulated Bitcoin and crypto perpetual futures for U.S. traders via Bitnomial, a CFTC-licensed exchange acquired by Kraken's parent company Payward. The contracts, which use an 8-hour funding rate mechanism, allow traders to manage perpetual futures alongside other products in a single account. The launch follows CFTC guidance enabling regulated platforms to offer such products.

President Donald Trump signed an executive order directing the Federal Reserve to review crypto access to US payment rails, aiming to remove barriers for fintech and crypto firms. The order requires regulators to audit existing rules and identify regulations that impede fintech firms within three months. Regulators must act on their findings within six months.

Kraken has partnered with MoneyGram to enable crypto cash-outs at 500,000 locations worldwide, allowing customers to convert cryptocurrency into cash. This partnership addresses a longstanding gap in the digital asset ecosystem and gives Kraken users access to nearly 500,000 physical locations worldwide. The move targets a key friction point in crypto markets, providing reliable cash access.

Payward, owner of Kraken, agreed to acquire Bitnomial for $550 million, gaining a fully CFTC-licensed U.S. crypto derivatives stack. The deal values Payward at $20 billion and aims to close in 2026, enhancing Payward's regulated infrastructure for digital assets.