Hyperliquid Perps to Enter US Market via Kraken; HYPE Up 1.7% | News

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News
Sep 17, 2026
2min read
bySteve Muchoki
forCoinpedia

Payward (Kraken’s parent) has partnered with Hyperliquid to offer on-chain perpetual futures to US clients by routing contracts through CFTC‑regulated Bitnomial Exchange and Bitnomial Clearinghouse, with accounts cleared by NinjaTrader Clearing and subject to CFTC approval, sanctions screening and lower leverage limits. Hyperliquid’s TVL has risen to $6.7 billion since 2023 and it now handles about 9% of global open perpetual positions amid an $85 trillion 2025 perpetual futures market. HYPE token rose 1.71% to $78.23 after the announcement and could retest $82.30 or drop below $75.83; the collaboration advances DeFi adoption by bridging CEX compliance with on-chain trading.

See what traders are focused on

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.

Hyperliquid perpetuals to start trading in the US

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.

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.

Current status

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.

HYPE price action

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.

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.

Source: cryptorank.io