Hyperliquid is in advanced talks to enter the US market through Payward, the parent company of Kraken, according to Bloomberg Technology. The report says the discussions center on bringing Hyperliquid’s perpetual futures to US traders. The reported talks have not been described as a completed launch or finalized partnership. Bloomberg frames the discussions as ongoing, and the available summaries do not provide timing, commercial terms, regulatory structure, or details on how the offering would be implemented. The potential US push comes shortly after President Trump said his administration was working to bring the fast-growing platform into the country, Bloomberg reports. For Hyperliquid, the reported Payward route would offer a possible pathway to US traders through an established exchange operator rather than a standalone market entry. For Payward and Kraken, the discussions would potentially add a high-profile perpetual-futures product to its US-facing strategy, if the talks result in an agreement. The key limit for readers is that Bloomberg’s report is source-based and still conditional. There is no confirmed launch date, no announced product availability, and no public confirmation in the provided items from Hyperliquid, Payward, or Kraken. Who benefits: Hyperliquid could benefit if the talks produce a viable US distribution route for its perpetual futures. Payward and Kraken could benefit if they secure a differentiated product relationship with a fast-growing platform. Who's exposed: Competing crypto venues are exposed if Hyperliquid gains US access through an established operator. The exposure is still prospective because the talks have not been reported as finalized.