Hyperliquid Expansion Plans Gain Momentum with Binance Listing and US Market Access
Hyperliquid's HYPE token is expanding its reach after gaining a spot listing on Binance, while the platform itself continues to grow globally. The derivatives exchange has seen significant growth in recent months, with open interest reaching a record $18 billion and average daily trading volume increasing by 54% year-over-year.
Grayscale highlights a proposed U.S. expansion structure involving Payward, the parent company of Kraken, and its U.S.-regulated subsidiary Bitnomial. Under this arrangement, Bitnomial would handle customer onboarding, accounts, margin, and clearing, while Hyperliquid would provide the underlying infrastructure for liquidity, order books, trade matching, and on-chain recordkeeping.
The proposed structure is subject to regulatory approval from the Commodity Futures Trading Commission (CFTC). If approved, it could pave the way for Hyperliquid's expansion into the U.S. market, opening up new opportunities for retail traders, professional firms, and institutional participants currently unable to use its offshore venue.
Hyperliquid has also expanded beyond traditional crypto perpetuals, offering markets linked to equities and commodities through a partnership with S&P Dow Jones Indices. The platform's HYPE token is currently trading at $92.58, up 3.2% over the past 24 hours.