Bloomberg · SEC · U.S. · The Block
On Monday that Payward has already pitched the Commodity Futures Trading Commission with the outline of the structure
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Payward acquired Bitnomial earlier this year for up to $550 million, giving it control of a CFTC-licensed U.S. derivatives stack spanning exchange, clearing and brokerage operations.
Key facts
- Hyperliquid's native HYPE token was trading up 1.3% over the past 24 hours to $84.25
- Payward acquired Bitnomial earlier this year for up to $550 million, giving it control of a CFTC-licensed U.S. derivatives stack spanning exchange, clearing and brokerage operations
- On Monday that Payward has already pitched the Commodity Futures Trading Commission with the outline of the structure, but is still awaiting final regulatory approval
- If the United States fails to keep pace with rapid advances in trading and markets, we risk ceding our reputation as the global hub of financial innovation," a CFTC spokesperson told The Block
Summary
Hyperliquid Labs could be nearing the finish line as it looks to bring perpetual futures to U.S. traders through a partnership with Kraken's parent company, Payward, . Under the proposed arrangement, Payward subsidiary Bitnomial would offer registered U.S. users access to a selection of crypto perps linked to markets on Hyperliquid's decentralized exchange and underlying Layer 1 blockchain. On Monday that Payward has already pitched the Commodity Futures Trading Commission with the outline of the structure, but is still awaiting final regulatory approval. For Hyperliquid (HYPE) to come to the U.S., both the Securities and Exchange Commission and the CFTC may need to be involved in writing revised interpretive rules involving custody and mechanics around current routing standards, former SEC senior counsel Ashley Ebersole told The Block in an interview.