Hyperliquid Targets First Official US Operations: Payward Submits Plan to US Regulator

Hyperliquid could provide limited product access to US-registered users if the structure submitted by Payward—Kraken’s parent company—to the CFTC is approved, as part of advanced-stage discussions.

Discussions between Hyperliquid Labs and Payward are reported to have reached an advanced stage. According to a Wu Blockchain report citing Bloomberg, Payward submitted the planned structure to the CFTC, which oversees derivatives and commodity markets in the US. However, the process is not yet at the stage of a finalized agreement or an official launch.

If the proposal receives regulatory approval, US-registered users will be able to trade a portion of perpetual futures that track the prices of crypto assets linked to Hyperliquid’s blockchain technology. These contracts do not have a specific expiration date.

Hyperliquid May Enter the US via Bitnomial

Under the plan, Bitnomial, Payward’s US-regulated exchange and clearinghouse, will play a key role. The goal is for user transactions to be conducted through a regulated infrastructure. Access will not cover all Hyperliquid products; only selected futures products will be offered to registered users in the US.

If approved, this move will mark Hyperliquid’s first official US operation. The platform’s plan to enter the US market comes just weeks after President Donald Trump’s administration announced it is working to attract fast-growing crypto platforms like Hyperliquid to the country.

The financial terms of the deal were not disclosed. Payward and Hyperliquid Labs left requests for comment on the matter unanswered. Therefore, it remains unclear when the plan will be implemented and which products it will cover.