Trump Wants to Bring Hyperliquid to the US: Separate Product Planned Instead of Direct Entry
Hyperliquid’s potential entry into the US may occur through a more limited and regulated separate product via Bitnomial, rather than the direct opening of the existing platform.
President Donald Trump’s goal to bring Hyperliquid to the US may not mean the platform’s existing global structure will be opened to American users. According to expert opinions reported by The Block, Kraken’s parent company Payward is working on a model via Bitnomial that could offer selected Hyperliquid-linked products to registered US users.
In this model, Hyperliquid (HYPE) could provide technological infrastructure, liquidity, or market design. However, transactions would be executed through the US-regulated Bitnomial rather than directly via Hyperliquid. The final structure and launch timeline have not yet been finalized.
US users may face more limited trading
Proposed products include perpetual contracts, which allow trading on crypto prices without a specific expiration date. US users could access this channel through identity verification, sanctions checks, and rules protecting customer funds.
In return, it is expected that fewer markets, lower leverage, and stricter risk controls will be applied compared to existing Hyperliquid users. This way, while the permissionless trading model on the global platform is preserved, a separate access layer can be created for the US.
For this plan to be implemented, both the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) may need to re-evaluate certain rules. Additionally, the assets to be offered are expected to undergo approval.
Former SEC legal counsel Ashley Ebersole stated that regulatory changes could take up to a year. The involvement of Bitnomial and Payward in the process could accelerate Hyperliquid’s potential launch timeline in the US. The Trump administration’s goal may shape up to be creating a separate product compliant with US rules, rather than opening the entire platform.