Crypto
Home›Crypto›Market Structure›Hyperliquid in advanced talks to bring perpetuals to U…
Hyperliquid in advanced talks to bring perpetuals to U.S. via Bitnomial
Bloomberg said the arrangement would route U.S. traders to Payward’s CFTC-regulated Bitnomial platform, which already has U.S. derivatives licenses for exchange, clearinghouse, and brokerage.
Hyperliquid Labs is in advanced talks with Payward, Kraken’s parent company, about bringing Hyperliquid perpetual futures to U.S. traders, Bloomberg reported on Aug. 31, citing people not authorized to discuss the matter.
Bloomberg said a deal would require regulatory sign off and would use Payward’s Bitnomial exchange for some perpetual futures tied to the prices of crypto tokens built on Hyperliquid’s blockchain. Payward and Hyperliquid declined to comment to Bloomberg, and the companies have not confirmed the talks.
Bitnomial is framed as the regulated derivatives venue in the reported structure. The report notes that Payward announced an agreement to acquire Bitnomial in April, and that Kraken previously said Bitnomial had assembled U.S. derivatives licenses for an exchange, clearinghouse, and brokerage.
Kraken has also described how Bitnomial fits into its U.S. perpetual futures business, with perpetual contracts planned to be listed on Bitnomial. Separately, Hyperliquid’s documentation for its HIP-3 system describes permissionless, builder deployed perpetual markets, including that a deployer must stake 500,000 HYPE and manage market operations.