Hyperliquid Seeks US Entry via Deal with Kraken Parent Company

Intercontinental Exchange and Nasdaq shares fell on Monday after reports emerged that decentralized crypto trading platform Hyperliquid is in talks to enter the U.S. market.

The news was triggered by a Bloomberg report stating that Hyperliquid Labs is in advanced discussions with Kraken's parent company Payward about bringing its perpetual futures to U.S. traders through Bitnomial, a U.S.-regulated digital asset exchange and clearinghouse.

This would mark the first entry into the U.S. market for Singapore-based Hyperliquid Labs, whose crypto platform has grown in popularity with traders but remains unavailable to U.S. customers.