Hyperliquid Labs could be nearing the finish line as it looks to bring perpetual futures to U.S. traders through a partnership with Kraken's parent company, Payward, according to Bloomberg.
Under the proposed arrangement, Payward subsidiary Bitnomial would offer registered U.S. users access to a selection of crypto perps linked to markets on Hyperliquid's decentralized exchange and underlying Layer 1 blockchain.
Bloomberg reported on Monday that Payward has already pitched the Commodity Futures Trading Commission with the outline of the structure, but is still awaiting final regulatory approval.
Payward acquired Bitnomial earlier this year for up to $550 million, giving it control of a CFTC-licensed U.S. derivatives stack spanning exchange, clearing and brokerage operations.
Kraken did not immediately respond to The Block's request for comment.
