Key facts
- Hyperliquid and Kraken parent Payward are in advanced talks to offer crypto perpetual futures to U.S. traders.
- The proposed structure would use Payward subsidiary Bitnomial as the regulated trading venue.
- Any agreement requires regulatory approval from bodies like the CFTC before U.S. customers can access the products.
- Hyperliquid currently does not offer its platform to U.S. customers but processes over $4 billion daily.
- Bitnomial operates as a regulated digital asset derivatives exchange under Payward.
- President Donald Trump has indicated efforts to bring platforms like Hyperliquid into the U.S. regulatory framework.
Hyperliquid Labs and Kraken parent Payward are in advanced talks to bring selected crypto perpetual futures to U.S. traders, utilizing Payward's subsidiary Bitnomial as the regulated trading venue. Hyperliquid, a decentralized platform with over $4 billion in daily volume, currently does not serve U.S. customers. The proposed structure aims to provide regulatory oversight and compliance, addressing concerns U.S. regulators have about decentralized platforms. Payward has submitted a proposal to the Commodity Futures Trading Commission (CFTC) outlining the plan, though regulatory approval is a prerequisite for any launch. These discussions follow comments from President Donald Trump indicating efforts to bring such platforms into the U.S. market compliantly. The HYPE token has seen a price increase amid these developments.