Hyperliquid Eyes US Entry Through Regulated Perpetuals

Hyperliquid Labs is in talks with Kraken parent company Payward to bring its platform into the US market, but American traders may not get the same experience they have globally.

The proposal involves routing selected perpetual futures through Bitnomial, a regulated derivatives business acquired by Payward this year. The acquisition gave Payward an integrated exchange, clearing, and brokerage structure that is already CFTC-registered.

A US product would likely offer fewer markets, tighter leverage, and stricter identity checks compared to the global version of Hyperliquid.