Hyperliquid Eyes US Launch Through Regulated Exchange Partnership
Hyperliquid Labs is in advanced talks to bring its perpetual futures trading platform to US customers through regulated exchange Kraken. The deal, which would require regulatory approval, aims to tap into the vast US market for crypto derivatives.
The proposed partnership between Hyperliquid and Kraken's parent company Payward comes as a significant development for the fast-growing trading platform. Currently, Hyperliquid's main interface bars American users due to restrictions tied to its blockchain design and the nature of its products.
Hyperliquid's US problem stems from its permissionless blockchain and contractually restricted access through its principal interface, which excludes US residents and entities. However, a successful US arrangement would make it possible for Kraken's subsidiary Bitnomial to offer a selection of crypto-linked perpetual futures tied to assets associated with Hyperliquid's blockchain.
The proposed structure is significant because Bitnomial already has the regulatory infrastructure needed to operate a US derivatives business. Payward completed its acquisition of Bitnomial in May, and a successful deal would represent Hyperliquid's first direct push into the US market.