In the future, Americans will be able to trade Hyperliquid (HYPE) on-chain perpetual futures through a one-of-a-kind partnership with Kraken crypto exchange.
According to a recent announcement by Kraken’s parent company Payward, the partnership leverages Kraken’s regulated operations to bring Hyperliquid trading to US clients.
Notably, Hyperliquid’s web interface is geopolitically blocked from the US as a way to comply with the nation’s derivatives regulations.
While trading outside the US, Hyperliquid Perps have seen escalating in demand, with total value locked rising to $6.7 billion since 2023 and the platform handling about 9% of the world’s open perpetual positions. Meanwhile, the general crypto perpetual futures market attracted $85 trillion in global volume in 2025 alone.
Source: DeFiLlama
This growth has sparked regulatory discussions, with traditional exchanges calling out user financial risk on the unregulated platform.
Payward and Hyperliquid have now come up with a way to go about the compliance hurdle in the American market. While users will have access to Hyperliquid’s order book, the contracts will operate under Bitnomial Exchange and Bitnomial Clearinghouse, all of which are CFTC-regulated and owned by Payward.
To trade, users will need to have their accounts cleared by both NinjaTrader Clearing broker and Bitnomial.
At the moment, the partnership is awaiting approval by the CFTC in order to release more operational details. Experts warn that the project implementation could take several months. Even more, the collaboration would be bound by tight regulations, sanctions screening, and lower leverage limits as compared to the global version.
Once approved, it would create a blueprint for how legacy finance can safely integrate with DeFi architecture. Payward itself has said this is the first of many similar partnerships that it intends to form in the future.
Following the announcement, HYPE rose 1.71% to trade at $78.23. The positive movement was also supported by fee-funded token buybacks and record open interest.
Source: CoinMarketCap
If the positive sentiment holds, HYPE could retest the $82.30 upper resistance. Failure to do this, might lead to a break below the $75.83 support zone, triggering a deeper correction.
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