Discussion on Collaboration Possibility Between Kraken and Hyperliquid

Interpretations have emerged suggesting that the HIP-3-based derivatives infrastructure of Kraken and Hyperliquid (HYPE) could be connected within the U.S. regulatory framework. This is not about confirmed contracts or approval announcements, but rather a discussion on whether a regulated centralized exchange can create intersections with DeFi-style derivatives structures. Ansem, a crypto trader, stated that Hyperliquid may need a regulated partner to operate in the U.S., and Kraken could be one of the potential options. The crux of the discussion lies in the U.S. derivatives infrastructure secured by Kraken's parent company, Payward. Payward has acquired a regulated derivatives framework through the acquisition of Bitnomial, which is overseen by the Commodity Futures Trading Commission (CFTC). Ansem interpreted that, based on this infrastructure, Kraken could become an access entity similar to Trade.xyz. Hyperliquid's HIP-3 is structured to allow separate developers to deploy perpetual futures markets, with a requirement of 500,000 HYPE staked for mainnet deployment. This discussion serves as a case study to explore whether exchanges and DeFi infrastructure can meet within the U.S. regulatory framework, although no official collaboration agreement between Kraken and Hyperliquid has been announced.