Hyperliquid Eyes US Launch via Kraken's Regulated Venue

Hyperliquid Labs is in advanced talks with Payward, the parent company of crypto exchange Kraken, to bring its perpetual futures to US customers. The deal would involve using Bitnomial, a subsidiary of Payward, as a regulated US venue for US traders.

The proposed structure is significant because it would allow Hyperliquid's blockchain to be accessed by registered US traders through a selection of crypto-linked perpetual futures tied to assets associated with the platform.

People familiar with the discussions told Bloomberg that Payward has presented a proposal outlining the structure to the Commodity Futures Trading Commission. However, the financial terms of the deal have not been disclosed.

Hyperliquid's current main trading interface bars American users due to regulatory issues. The platform handles more than $4 billion in trading volume a day, making a successful US arrangement significant for both Hyperliquid and the market as a whole.