Copper Brings Hyperliquid Perps to Institutional Traders

Copper has expanded its services by integrating a trading interface for Hyperliquid perpetuals, allowing professional firms to access the decentralized derivatives market through their existing platform. This move is designed to bring the fast-growing on-chain venue under the same institutional controls used for custody, collateral, and exchange connectivity. Clients can trade Hyperliquid perpetuals while their assets remain secured through Copper’s non-custodial multi-party computation infrastructure.

The integration addresses key operational gaps, such as multi-authorization workflows, granular user permissions, and audit trails, which are crucial for institutional trading desks. Copper’s Policy Engine ensures that trading desks can access Hyperliquid without compromising on the operational controls they rely on elsewhere. This is particularly important for funds, market makers, and proprietary trading firms that need segregated responsibilities for execution, treasury, and compliance.

Hyperliquid has seen significant growth, with nearly $240 billion in perpetual volume over a recent 30-day period. Copper’s integration allows institutions to manage Hyperliquid activity alongside over 30 centralized exchanges through ClearLoop, enhancing capital efficiency. The service extends to selected instruments offered by tradeXYZ under Hyperliquid’s HIP-3 framework, including equities, commodities, and indices.

Elin Cherry, Co-CEO of Copper, emphasized that continuous price discovery can help firms respond to information outside conventional market hours. However, she noted that while the integration addresses the control layer, it does not eliminate market risks associated with on-chain perpetuals, such as smart-contract risk and liquidation mechanics. The service is currently available to eligible institutional and professional clients, excluding the United States and other restricted jurisdictions.