KRAKEN BRINGING HIP-3 PERPS TO THE US VIA HYPERLIQUID

Summary from the TLDR Crypto newsletter

Payward, Kraken's parent company, will deploy as a regulated HIP-3 operator on Hyperliquid's L1, giving US retail customers their first access to Hyperliquid perp markets through a supervised, compliant entity. HIP-3 lets regulated third parties run perp markets on Hyperliquid's chain, and Payward's recently secured US derivatives approvals qualified it to operate under this framework. The arrangement opens Hyperliquid's high-performance L1 to US retail order flow and establishes a template for other offshore DeFi venues to enter the US market through regulated operator layers.