Hyperliquid in Talks to Enter US Market via Kraken’s Bitnomial

This marks a notable strategic pivot for Hyperliquid, leveraging an established licensed venue to bypass the regulatory friction of a direct US launch. Should the deal close, it would give US traders access to a novel derivatives market structure, potentially setting a precedent for how offshore DeFi protocols integrate with compliant domestic exchanges. The key test is whether Bitnomial's existing regulatory standing can smooth approval, and whether Hyperliquid's on-chain liquidity depth can sustain institutional interest once US order flow is added. Watch for how Kraken's custody and compliance layers are adapted to token-linked perps, as that will signal the viability of similar partnerships elsewhere.