Bloomberg · Donald Trump · SEC · U.S. · Decrypt
Hyperliquid in Talks With Kraken Parent to Bring Crypto Perps to US Traders
Compiled by KHAO Editorial — aggregated from 2 sources. See llms.txt for citation guidance.
◎ Multiple-sources
Hyperliquid is in advanced discussions to bring its perpetual futures to American traders through Kraken's parent company, Payward, according to a report from Bloomberg.
Key facts
- A deal would mark the first push into the U.S. market by Singapore-based Hyperliquid Labs, whose fast-growing platform has been off-limits to American customers
- Any agreement would still require regulatory sign-off, and that Payward has already presented the Commodity Futures Trading Commission with a proposal outlining the basic structure
- The report follows President Donald Trump's remarks earlier this month, when he said his administration was working to bring the platform onshore
- The talks also land as the SEC and CFTC press ahead on rules that could pull offshore perpetual futures trading, a market that dwarfs its U.S. counterpart, back onto domestic platforms
Summary
Hyperliquid 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 solve the core issue keeping the Singapore-based, decentralized platform—which handles over $4 billion in daily volume with no central operator—out of the US. The talks follow Trump's remarks that his administration was working to bring Hyperliquid onshore, and come as the SEC and CFTC push to pull offshore perps trading back onto U.S. platforms. The talks, reported Monday and attributed to people familiar with the matter, would let U.S.-based traders access a subset of Hyperliquid's crypto-linked perpetual futures through Payward's Bitnomial, a U.S.-regulated digital asset exchange and clearinghouse, Bloomberg reported.