Hyperliquid Negotiates with Kraken's Parent to Introduce Crypto Perpetual Futures to U.S. Traders

Hyperliquid Negotiates U.S. Market Entry

Hyperliquid is reportedly engaged in advanced negotiations to introduce its perpetual futures offerings to American traders through Payward, the parent company of Kraken. This move aims to leverage the regulated Bitnomial exchange, as detailed in a recent Bloomberg report.

The discussions could pave the way for Hyperliquid's entry into the U.S. market, which has been hindered due to regulatory challenges. The Singapore-based decentralized platform, which boasts a daily trading volume exceeding $4 billion, has so far remained inaccessible to U.S. customers.

These negotiations come after President Trump indicated that his administration is actively working to facilitate Hyperliquid's U.S. entry. He noted that the Commodity Futures Trading Commission (CFTC) is exploring options to bring the platform onshore, which could significantly impact the landscape of crypto trading in the country.

If an agreement is reached, it would be a significant milestone for Hyperliquid Labs, marking its first venture into the U.S. market. However, any potential deal will require regulatory approval, and Payward has reportedly submitted a proposal to the CFTC outlining the foundational framework for this partnership.

Utilizing Bitnomial's regulated infrastructure would address key regulatory concerns associated with Hyperliquid's decentralized operations, which have raised alarms about issues such as market manipulation and money laundering.

This development follows the CFTC and SEC's efforts to establish regulations that could enable offshore perpetual futures trading to return to U.S. platforms, a move analysts believe could reshape the trading environment significantly.