Hyperliquid Eyes US Market Entry with Perpetual Futures Deal

Hyperliquid, the Singapore-based decentralized platform handling over $4 billion in daily volume, is in advanced talks to bring its perpetual futures to US traders through Kraken parent Payward's regulated Bitnomial exchange and clearinghouse.

The arrangement would address the core obstacle that has kept Hyperliquid out of the US market: its permissionless design, which regulators worry leaves it exposed to manipulation, money laundering or sanctions evasion.

According to Bloomberg, Payward has already presented a proposal outlining the basic structure to the Commodity Futures Trading Commission (CFTC), and the talks follow President Donald Trump's remarks that his administration was working to bring Hyperliquid onshore.