- Nasdaq-listed Hyperliquid Strategies reported quarterly revenue of $13.3 million, beating analyst estimates.
- The company has applied to become a registered futures commission merchant (FCM) with the US Commodity Futures Trading Commission.
- The proposed registration could help it offer regulated access to Hyperliquid’s perpetual futures markets to US customers.
Hyperliquid Strategies Posts Strong Revenue
Hyperliquid Strategies, listed on Nasdaq, posted revenues of $13.3 million for the quarter ended September 30, exceeding analysts’ forecasts of between $10.6 million and $12 million.
The firm also posted net income of $620.6 million. However, this figure was heavily driven by realized gains from holding Hyperliquids own HYPE token. The firm posted realized gains of $803 million from the token. This was partially offset by income tax expense of $172.3 million.
Source: prnewswire.com
The company also announced an important development, having submitted an application to become a registered futures commission merchant (FCM), with the Commodity Futures Trading Commission (CFTC) in the United States.
If the application is successful, Hyperliquid Strategies will be able to hold accounts for customers in the United States who trade on HIP-3 markets.
Recently Hyperliquid announced it will add new functionality to its HIP-3 framework. Independent operators will be able to build and launch permissioned markets on its blockchain.
This means independent operators can build and control their own markets, whilst still using the Hyperliquid network. This could make it easier to provide perpetual future trading to customers in the United States.
However, Hyperliquid Strategies added the application is currently being reviewed. There are no guarantees as to how long it will take to be approved or whether the permissioned markets will be approved.
Growing Interest From Traditional Financial Companies
Hyperliquid’s infrastructure is gaining more interest from traditional financial companies in the United States.
Last week, Intercontinental Exchange (ICE), parent company of the New York Stock Exchange, agreed to work with TradeXYZ to provide Hyperliquid based perpetual futures markets to traders in the United States.
ICE will operate the exchange and clearing infrastructure whilst TradeXYZ will build the markets.
Earlier this year, US President Donald Trump said the administration was working to get Hyperliquid into the United States market in a fully compliant and legal way.
This new application moves Hyperliquid Strategies one step closer to achieving this goal. If approved by regulators it could make it easier to link decentralized derivatives markets to traditional financial services in the United States.
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