Hyperliquid Strategies Unit Applies for U.S. Futures Broker Registration

Hyperliquid Strategies said its subsidiary has applied to register as a futures commission merchant (FCM), a step toward offering Hyperliquid-based perpetual contracts to U.S. customers if regulators approve the plan.

The subsidiary would handle U.S. customer accounts for permissioned markets built on Hyperliquid. Hyperliquid’s HIP-3 framework lets operators deploy custom perpetual contracts on the network’s on-chain infrastructure, while the proposed feature would restrict participation to approved addresses. That structure would place account handling with the subsidiary and market deployment on Hyperliquid.

The FCM registration and proposed market both require regulatory approval. The filing is a proposal, so it does not itself make the contracts available to U.S. customers.

The move follows Intercontinental Exchange’s Oct. 29 announcement of an agreement with Trade[XYZ] to bring Hyperliquid-based perpetual markets to the United States. ICE plans a dedicated market and clearing structure for that effort, which also requires regulatory approval. ICE’s plan is separate from the subsidiary’s filing.