Grayscale: Payward Plans U.S. Route for Hyperliquid Perpetuals
- —Bitnomial Exchange would deploy and administer HIP-3 markets, with Bitnomial Clearinghouse handling clearing and settlement
- —NinjaTrader Clearing would carry client accounts, and only allowlisted clients could trade
- —Hyperliquid averaged about $9 billion in open interest in Q2 2026, up 54% year over year
- —Hyperliquid itself would not become a U.S.-regulated exchange, remaining the onchain infrastructure layer
Why it matters: A U.S. launch would give institutions regulated access to Hyperliquid perpetuals and could lift fee revenue, part of which funds HYPE buybacks.
Source: The Crypto Times