Hyperliquid in advanced talks with Payward and Bitnomial to offer crypto perps to U.S. traders

Hyperliquid Labs is reportedly in advanced talks to bring its perpetual futures offering to US traders via Kraken parent Payward and Payward’s US-regulated exchange and clearinghouse Bitnomial, with Bloomberg describing the talks as advanced and weeks after Trump said the administration was working to bring the platform into the US ^{[1] [2] [3]}.

One described structure would allow registered users to trade a subset of perpetual futures linked to crypto assets on Hyperliquid if approved by regulators, and people familiar with the matter said Payward submitted the proposed structure to the CFTC; financial terms were not disclosed and both companies declined to comment ^[2].

Decrypt also reported that a deal would route Hyperliquid’s perpetual futures through Payward’s Bitnomial and would mark Hyperliquid’s first entry into the US, and it referenced President Donald Trump’s prior comments about bringing Hyperliquid onshore ^[3].

crypto.news reported that former SEC senior counsel Ashley Ebersole estimated Hyperliquid could face a 10-to-12-month regulatory process to enter the US even if federal agencies moved quickly after Trump said regulators were working on a compliant route ^[4].

Separate Crypto Briefing coverage said Hyperliquid’s HYPE token rose in connection with Bloomberg’s report of talks with Payward about US market entry, and it framed the possible impact in terms of investor confidence, trading volume, and the regulatory landscape ^[5].