Hyperliquid Crypto Eyes Regulated US Entry Amid $9 Billion Open Interest

Payward, the parent company of Kraken, has announced plans to launch regulated U.S. Hyperliquid crypto markets, pending federal approval.

The proposed deployment would involve permissioned HIP-3 markets for American clients, offering new perpetual futures through a structure involving Payward's exchange, clearinghouse, and registered futures broker.

According to sources, the arrangement would not open Hyperliquid's existing perpetual markets to U.S. customers, but instead create separate contracts within its own structure.

The move follows President Donald Trump's August announcement regarding Hyperliquid's potential U.S. entry, with CFTC Chair Michael Selig working to bring the platform into the country legally.