Hyperliquid Eyes US Market Entry Through Kraken-Backed Partnership
Hyperliquid, a decentralized perpetual futures exchange, is poised to make its US market debut via a partnership with Bitnomial, a regulated US derivatives venue. This move marks Hyperliquid's first direct entry into the US market, which it currently restricts due to regulatory issues.
The partnership involves Payward, Kraken's parent company, and Bitnomial, which operates under Commodity Futures Trading Commission (CFTC) regulation. The deal awaits regulatory approval from the CFTC and could set a precedent for other offshore crypto platforms seeking US access.
Bitnomial's existing regulatory framework makes it a suitable partner for this expansion. This move is seen as positive amid ongoing efforts by US regulators to allow Hyperliquid's perpetual futures products to be offered to US traders.