Standard Chartered, the British multinational banking and financial services group, has expanded its presence in the UAE by launching institutional spot trading for Bitcoin and Ether.

 

While this is not the first time institutional BTC and ETH spot trading has been launched in the UAE, Standard Chartered’s launch is unique, as it is the first Global Systemically Important Bank (G-SIB) to offer institutional Bitcoin and Ether deliverable spot trading in the region and is currently the only global bank offering such capabilities in the Emirates.

 

By launching these institutional grade spot trading services, Standard Chartered enables eligible institutional clients to access deliverable Bitcoin and Ether spot trading through its electronic trading channels.

 

“The UAE has developed a clear digital assets regulatory framework that supports institutional participation and innovation,” Rola Abu Manneh, Chief Executive Officer, UAE, Middle East and Pakistan at Standard Chartered, said.

 

“Extending our Bitcoin and Ether spot trading capability to institutional clients is a significant step in broadening our regulated digital asset proposition in the market. By combining execution with secure custody, governance and the connectivity of a global bank, we are providing clients with a more integrated way to participate in digital asset markets.”

 

The launch of Standard Chartered’s institutional spot trading service came just a few days after the bank became the first authorized bank distributor of the HKD-backed stablecoin developed by Anchorpoint Financial Limited.

 

Standard Chartered has also been involved in several pro crypto and tokenization friendly moves, launches and partnerships. Notable among these was its acquisition of Zodia Custody in May, a move designed to support institutional clients.

 

Global cryptocurrency exchange Coinbase has launched derivatives contracts for eligible Canadian investors seeking to trade and speculate on a trusted platform.

 

 

The derivatives contracts, which will be offered through Coinbase Financial Markets, are the first of their kind from a crypto native platform in Canada, giving investors access to highly liquid and regulated contracts, including 23 perpetual and dated futures covering assets such as Bitcoin, ETH, and SOL; five commodity futures covering gold, silver, and oil; and index futures.

 

Regarding the features of the newly launched derivatives contracts, Coinbase said in a blog post that the contracts are regulated by its financial markets arm, an entity registered with the U.S. Commodity Futures Trading Commission (CFTC). The contracts will also be flexible, with nano sized contracts designed for investors with lower upfront capital requirements.

 

Coinbase’s derivatives contract launch comes at a time when the exchange has rolled out more customizable charting and interface features on Coinbase Advanced.

 

Rather than forcing every trader to use the same chart setup, the rollout is aimed at making it easier for traders to customize their trading screens. Traders can switch between candlestick and line charts, change time frames, adjust chart settings and technical indicators, and use drawing tools.

 

The benefits of these features are that traders can spot market trends faster, identify potential entry and exit points, and analyze market movements more effectively.

 

Fomo, a cryptocurrency trading platform, has raised $75 million in a Series B funding round led by Index Ventures, with Union Square Ventures and Benchmark also participating.

 

 

According to the team, the new funding will be used to expand Fomo’s asset classes, including equities, perpetuals, and prediction markets, while scaling its engineering team and further investing in its trading and social platform.

 

Through its consumer-focused platform and the removal of some technical barriers associated with on-chain trading, such as unpredictable gas fees, fragmented blockchains, and complex token bridges, Fomo aims to seamlessly onboard users on-chain.

 

“Most trading products aren’t built with the user in mind. They are dull, hard to understand, and make you want to rip your hair out,” said Paul Erlanger, Co-founder and CEO of Fomo.

 

“Each decision we make at Fomo is made to bring our users joy. Fomo is accessible, social, and understandable in 15 minutes. We believe people should be able to access global markets instantly, share opinions and convictions through their network, and participate without needing to understand the technical complexity underneath it all.”

 

By unifying liquidity, automatically routing transactions, and supporting familiar traditional payment methods such as Apple Pay, Fomo aims to make on-chain trading more accessible. With the inclusion of new asset classes, Fomo is positioned to reach more users globally.

 

About Fomo 

Fomo is a consumer-focused, social-first crypto trading app designed to make on-chain trading simple and accessible. Everything it does revolves around its goal of simplifying crypto trading. To achieve this, Fomo integrates social trading features that allow users on the platform to discover trending assets, connect with top-performing traders, and track open positions.

 

Since launching last year, Fomo has done several impressive things, including becoming the largest cross-chain crypto trading app, raising more than $90 million in seed funding, growing its user base to more than 625,000, and processing over $4 billion in trading volume to date.

 

 

Keyrock, a leading crypto investment company and digital asset liquidity provider, has secured a Markets in Crypto Assets Regulation (MiCA) license, advancing its efforts to expand its presence across the European Union (EU).

 

 

The company announced the authorization in a Monday blog post, stating that it was granted through its French subsidiary, Keyrock FR SAS. According to Reza Ghadiri Zare, Keyrock’s general counsel, the MiCA license provides regulatory certainty as the firm scales its operations across EU member states, thereby strengthening investor confidence.

 

“Achieving a MiCA license not only demonstrates our uncompromising market integrity, but also signals our intent for the future,” commented Kevin de Patoul, CEO of Keyrock. “We’ll continue to drive progress in digital assets, but never at the expense of security or transparency. As we grow, we’ll provide clients with the stability and confidence required in a regulated market.”

 

With MiCA licensing secured and regulatory hurdles cleared, Keyrock aims to enhance its cross-border operations across the EU. Coupled with its liquidity and risk management infrastructure, the company plans to further scale its digital asset initiatives.

 

With a valuation of $1.1 billion, Keyrock operates a liquidity infrastructure that spans more than 85 centralized and decentralized exchanges and over 1,400 markets.

 

About Keyrock 

Founded in 2017, Keyrock is a leading global digital asset market maker that aims to make crypto markets more accessible and scalable. Leveraging its high-frequency trading technologies, risk management capabilities, and deep liquidity, Keyrock offers a range of services, including market making, OTC trading, and digital asset and wealth management.

 

As one of the earliest crypto market makers, Keyrock has achieved several significant milestones, including raising more than $170 million and achieving unicorn valuation. The company has also secured the necessary licenses, reducing regulatory uncertainty as it expands across the EU. Keyrock serves institutional clients, including hedge funds, asset managers, and traditional finance companies entering the digital asset market.

 

 

Global cryptocurrency exchange Coinbase has launched direct Indian Rupee (INR) rails for users in India following approval from one of the country's main financial regulators.

 

 

With the launch of the INR rails, Indian users can now directly deposit and withdraw Indian Rupees on Coinbase using the Immediate Payment Service (IMPS) from their Indian bank accounts, without relying on peer to peer rails or intermediaries.

 

Using Indian Rupees, customers will be able to access spot trading across a range of assets, alongside perpetual futures contracts covering major crypto assets.

 

“We have built local INR order books that provide dedicated liquidity for Indian customers, while maintaining continued access to our global exchange,” John O'Loghlen, Coinbase's Regional Managing Director for APAC, wrote in a blog post.

 

Coinbase has also rolled out advanced features for users seeking additional functionality, including professional grade trading tools, built in institutional grade APIs, WebSocket order book streaming, and an integrated TradingView charting tool that allows traders to analyse price movements, trends, and technical indicators.

 

Coinbase Deepens Its Presence in India

With this expansion, Coinbase aims to continue contributing meaningfully to India’s growing crypto ecosystem. It is one of the leading investors in CoinDCX, India’s largest cryptocurrency exchange, which currently serves over 22 million users.

 

Through Base, its Ethereum layer two network, Coinbase has contributed over 1 million dollars to the Indian builder community through hackathons, direct grants, and fellowships, with more than 4,000 builders in India already building on Base and 150 of these projects growing into real startups.

 

To demonstrate its commitment to the growth of the Indian crypto ecosystem and reaffirm its long term presence in India, Coinbase says its latest rollout complies with the Financial Intelligence Unit India regulatory framework and other taxation laws.

 

As a result, Indian users can deposit Indian rupees directly from their bank accounts onto the exchange, trade in both spot and futures markets, and withdraw their funds back to their bank accounts whenever they choose, without any additional steps or workarounds.

 

Coinbase’s expansion in India comes shortly after the exchange received approval from the Commodity Futures Trading Commission, the CFTC, to offer offshore crypto perpetuals and options to users in the United States.

 

Coinbase also recently partnered with Flipcash, a digital payments app, to launch the app’s first stablecoin using its custom stablecoin platform.

 

 

Cryptocurrency exchange OKX has launched Exchange OS, a major protocol upgrade built on X Layer, its EVM-compatible Layer 2 network, allowing developers, institutions, and ecosystem participants to create spot, perpetual, and outcome markets.

 

 

Exchange OS is designed to address fragmented infrastructure, one of the biggest obstacles limiting the expansion and adoption of on-chain finance.

 

“While blockchain enabled open asset issuance, the infrastructure for trading, settlement, margining, and liquidity remains siloed across disconnected venues and applications,” Star Xu wrote in a blog post. “Builders still face the same tradeoff: rely on centralized infrastructure or rebuild complex exchange systems from scratch,” he added.

 

By launching Exchange OS, OKX aims to create a shared market infrastructure that enables developers and institutions to launch new trading experiences efficiently while maintaining flexibility in core areas, including risk controls, compliance, market structure, and frontend design.

 

Exchange OS moves core exchange functions, including matching, margining, liquidation, settlement, and risk management, to the protocol layer of X Layer, creating a shared execution environment that allows developers to build different types of markets within a single environment.

 

Using the configurable components of Exchange OS infrastructure, developers and institutions can create trading venues, or marketplaces where trading takes place. As a result, Exchange OS enables developers to build customized trading platforms.

 

With Exchange OS, users can deploy trading venues permissionlessly via the X Layer Improvement Proposal for Exchange OS (XIP Exchange OS), choosing their own assets, oracle systems, revenue models, and compliance frameworks without requiring approval from a centralized entity. Regulated institutions can also launch fully KYC-compliant trading platforms.

 

Exchange OS also serves traders by enabling a unified account and margin system across spot, perpetual, and outcome markets, allowing capital to move seamlessly between markets rather than being trapped across fragmented platforms.

 

OKX to Debut Trading Venue on Exchange OS

To demonstrate its commitment to the newly launched Exchange OS platform, OKX will launch the first trading venue on Exchange OS.

 

“In June, we will launch the 2026 World Cup Outcomes, a simulated outcome market deployed directly on the infrastructure. We wanted to build on the system ourselves before opening it more broadly because the best way to demonstrate open market infrastructure is to use it in production first,” OKX said in a blog post.

 

 

KRWQ, a stablecoin pegged to the South Korean won, is expanding to Solana following a recent announcement from IQ, the company behind the stablecoin.

 

The expansion, according to IQ, is aimed at enhancing KRWQ support for various Korean won-denominated trading applications on Solana, including perpetual futures, on-chain foreign exchange markets, arbitrage strategies, cross-margin trading, and other institutional and algorithmic trading systems and applications.

 

 

“The Korean won is a major global currency with substantial activity in offshore derivatives markets, yet it has remained largely inaccessible in crypto native trading systems,” IQ said in a statement to reporters. “KRWQ allows market participants to trade, hedge, and deploy capital using Korean won liquidity directly on chain.”

 

Regarding its decision to launch KRWQ on Solana, the IQ team cited Solana’s low latency and deep liquidity as key reasons for selecting the network.

 

“Solana provides the performance and ecosystem depth needed to scale KRW liquidity on chain,” said Dave Shin, chief operating officer of KRWQ. “We are seeing clear demand for non-USD trading pairs, particularly in derivatives.”

 

As KRWQ’s adoption continues to grow among both retail and institutional users, IQ expects increased usage of the stablecoin across a wide range of applications, including cross-border settlements and advanced trading systems.

 

About the KRWQ stablecoin 

KRWQ is a stablecoin developed by IQ in collaboration with Frax Finance, a notable decentralized finance project. It was created with the main goal of bringing the Korean won (KRW) onto the chain.

 

By enabling 24/7 trading, instant settlement, and low-cost on-chain transactions, KRWQ addresses major inefficiencies in offshore KRW trading, increasing demand for and use of KRW in global payments and decentralized finance, while reducing dependence on US dollar-pegged stablecoins.

 

Since its launch in October 2025, KRWQ has rapidly gained traction as the first on-chain settlement layer for Korean won trading, expanding beyond Base, its initial deployment chain, and going live on Fraxtal, Codex, Morph, and Hydrex. KRWQ was also recently listed on EDX Markets, an institutional-focused cryptocurrency exchange, across spot and perpetual futures.

 

KRWQ now has a spot trading volume of nearly $40 billion and a Non-Deliverable Forward (NDF) market worth about $60 billion.

 

 

Charles Schwab, the United States based brokerage and banking firm, has launched Schwab Crypto, a spot crypto trading platform that provides direct access to Bitcoin (BTC) and Ether (ETH) trading, along with educational content and support from experienced professionals for users.

 

 

“We know our clients want to conduct more of their financial lives at Schwab. With Schwab Crypto, clients who want direct access to the asset class can trade it alongside their other investments, while benefiting from the service, education, and research they expect from us,” said Jonathan Craig, Head of Retail Investing at Charles Schwab.

 

The spot trading platform will provide direct trading in BTC and ETH, with more cryptocurrencies to be added in the future as the platform expands. Traders will also be able to view and trade both crypto and non crypto products across all of Schwab’s platforms, including its website, Schwab Mobile, its mobile app, and thinkorswim, its advanced trading platform, with 24/7 professional support available to traders.

 

Through Schwab Coaching, its educational program, Charles Schwab will provide in depth digital assets education and resources, including insights and commentary from the Schwab Center for Financial Research and crypto focused content, all aimed at helping investors understand the digital assets market and how digital assets fit into a broader investing strategy.

 

How Schwab Crypto Works 

Through Charles Schwab Premier Bank (CSPB), Schwab clients will be given a separate crypto account for the purpose of trading on Schwab Crypto, the retail trading platform. However, this account will remain linked to the clients main brokerage accounts, with CSPB serving as the primary custodian of all client digital assets.

 

Paxos, a leading blockchain infrastructure company regulated by the Office of the Comptroller of the Currency, will be responsible for handling all trade execution and subcustody services.

 

Regarding Paxos’s role, Joe Vietri, Managing Director and Head of Digital Assets at Charles Schwab, said, “Paxos is a strong partner for blockchain infrastructure. Their regulatory standing and digital asset expertise will help us deliver the seamless, integrated experience our clients expect from Schwab.”

 

 

MoonPay is not slowing down. The crypto payments giant announced Monday the acquisition of Dawn Labs, an applied AI research startup focused on autonomous trading tools for digital asset markets. Alongside the deal, the company launched Dawn CLI, a product that lets users build and execute trading strategies using plain-English prompts. No coding background required.

 

The move pushes MoonPay deeper into what it calls the "agentic" layer of crypto, where AI systems can reason, plan, and now, apparently, trade on your behalf. It also adds another chapter to the company's broader infrastructure buildout, which has been accelerating through 2025 and into this year.

 

Plain English, Real Trades

Dawn Labs founder Neeraj Prasad, who now serves as Chief Engineer of MoonPay Labs, put it bluntly: until now, building a systematic trading strategy meant being a developer, a quantitative analyst, and a portfolio manager all at once. Dawn CLI collapses all of that into a single interface. You describe what you want, the system writes the code, and then it runs.

 

The platform is launching first on Polymarket, the decentralized prediction market that has seen explosive growth over the past two years, attracting traders betting on elections, sports results, economic data, and geopolitical events. Prediction markets have gone from a niche crypto experiment to a mainstream information layer, and tools to actually trade them systematically have lagged badly behind the demand. That's the gap MoonPay is targeting.

 

"We're starting with prediction markets because they are one of the fastest-growing sectors, and many traders in the space are underserved by existing tooling," Prasad said. Additional trading venues and asset types are on the roadmap for the coming months.

 

Infrastructure First Model

The Dawn Labs deal sits within a larger strategic context. Earlier this year, in February, MoonPay launched MoonPay Agents, a non-custodial software layer built on its developer-focused command-line interface that lets AI agents access crypto wallets, execute trades, perform cross-chain swaps, and off-ramp back to fiat, all autonomously. CEO and founder Ivan Soto-Wright described the thinking in stark terms: "AI agents can reason, but they cannot act economically without capital infrastructure. MoonPay is the bridge between AI and money."

 

The service works through a one-time KYC process, after which an agent can transact on behalf of the verified user within preset permissions. Wallets are non-custodial and stored on the user's device, not held by MoonPay. It also supports the x402 standard, a machine-to-machine payments protocol that has been gaining traction across the industry, with Stripe and Cloudflare both adding support in recent months.

 

A Broader Industry Shift

MoonPay is not alone in this push. Gemini launched its own agentic trading feature for AI agents back in April, and Coinbase, Stripe, and Amazon have each rolled out AI-compatible stablecoin payment rails in recent months. Solana and Google have made similar moves. The pattern is clear enough: major players across crypto and fintech are racing to build the financial plumbing that AI agents will need to operate as independent economic actors.

 

For MoonPay specifically, it sees this as a natural extension of what it already does. The company, founded in 2019, serves more than 500 enterprise clients and 30 million users globally. Its core business has always been connecting fiat payment systems to blockchains. Extending that to AI systems is, in some ways, the logical next step.

 

Prasad said the company does not view AI agents and human traders as separate customer bases. "We've been building MoonPay around four pillars: fund, tokenize, trade, and spend," he explained. "Our agentic products put that same stack in the hands of both humans and machines."

 

What Comes Next

Following the Agents launch in February, MoonPay unveiled a Ledger integration in March, allowing AI-initiated transactions to be signed on a hardware device, a notable security step for users wary of handing autonomous control to software alone. The Dawn CLI launch now adds an execution layer on top of that infrastructure, specifically aimed at traders who want strategy-building capabilities without the technical overhead.

 

Whether retail traders will warm to the idea of an AI agent placing bets on Polymarket on their behalf remains to be seen. But MoonPay is clearly positioning itself well ahead of that question. If the agentic economy arrives on the timeline its backers expect, the company wants to be the rails it runs on.

 

Crypto platform Blockchain.com has rolled out a new perpetual futures trading feature within its non-custodial DeFi wallet, allowing traders to open leveraged positions directly from the wallet.

 

The new feature, according to Blockchain.com, allows traders to trade perpetual futures directly where their assets are held, eliminating the need to continuously move or convert funds between exchanges and platforms. Traders on Blockchain.com can now access more than 190 crypto markets with leverage of up to 40x, without futures contracts expiring.

 

 

The newly launched feature is powered by the decentralized exchange Hyperliquid and is aimed at removing friction associated with derivatives and futures trading.

 

"We have spent the last decade focused on making crypto easy and borderless for everyone," said Nic Cary, co-founder and vice chairman of Blockchain.com. "We want to make the jump from holding your crypto to actually using it feel instant," he added. "By letting you fund your account with your own Bitcoin while keeping full control of your keys, we are proving that managing your own money can actually be the easiest way to trade."

 

Some of the features of this new perpetual futures trading offering include real-time pricing, flexible leverage options, and intuitive risk management tools, all designed to operate seamlessly within the wallet interface. Users can open, manage, and close positions while maintaining full control of their private keys.

 

The Perps Space is Extremely Active

Perpetual futures, which involve speculating on the price of an asset using leverage without directly owning that asset, have grown in recent times.

 

According to a report from CryptoQuant, perpetual futures trading volume reached $61.7 trillion in 2025, a 29% increase from the previous year and a 232% increase compared to the $18.6 trillion spot crypto trading volume for that year. There has also been an increase in institutions offering perpetual futures trading.

 

Just this week, prediction market platform Polymarket announced its expansion into perpetual futures trading. Meanwhile, last week, Payward, the parent company of cryptocurrency exchange Kraken, announced it would acquire crypto derivatives platform Bitnomial for up to $550 million, as part of Kraken’s broader strategy to expand into perpetual futures trading.

 

 

Bitnomial, the Chicago based cryptocurrency exchange, has launched the first Injective (INJ) futures contracts in the United States, regulated by the Commodity Futures Trading Commission.

 

Although access is currently limited to institutional clients, with retail traders expected to gain access in the future, the newly launched INJ futures contracts allow users to gain exposure to the Injective Protocol underlying INJ token without directly holding it.

 

 

The futures contracts settle in INJ with monthly expiries. This means that while the INJ futures contracts are tradable on the Bitnomial exchange, each contract has an expiry date. When this date is reached each month, the contract expires and settles.

 

The INJ futures contracts can also be margined in crypto or United States dollars, which means traders can choose to deposit either United States dollars or other supported cryptocurrencies as collateral when they open and maintain leveraged positions on the Bitnomial platform.

 

The launch of the Injective INJ futures contracts is one of several futures contract launches by Bitnomial this year, with the exchange having launched XRP futures contracts last month and Tezos and Aptos futures contracts earlier in the year.

 

What the Injective Protocol is

The Injective protocol is a high performance layer 1 blockchain built for decentralized finance DeFi and other advanced financial applications. The Injective chain was built to support complex blockchain infrastructures such as decentralized exchanges DEXs, derivatives trading, perpetual futures, spot markets, prediction markets, lending, and real world assets RWAs.

 

Since its launch, several blockchain protocols have been built on the Injective chain, including Helix, a decentralized exchange, DojoSwap, an automated market maker, and Astroport.

 

Kraken in Deal to Acquire Bitnomial

In its latest acquisition move, Payward, the parent company of cryptocurrency exchange Kraken, has agreed to acquire Bitnomial for 550 million dollars in a deal expected to close before the end of the quarter.

 

 

Through this acquisition, Kraken aims to establish a fully vertically integrated United States crypto derivatives platform under full Commodity Futures Trading Commission regulation. The acquisition is intended to help Kraken accelerate the development of its derivatives business in the United States.

 

Bitnomial’s strong regulatory framework and compliance structure are among the factors influencing the deal. The company operates a Designated Contract Market, a Derivatives Clearing Organization, and a Futures Commission Merchant that supports its brokerage services.

 

Since Bitnomial already has these infrastructures in place, its acquisition is expected to be pivotal for Kraken in advancing its derivatives exchange objectives.

 

 

Hyperliquid's RWA trading just hit a new all time high, with open interest crossing $2.3 billion on its blockchain which says a lot about how much liquidity is actually flowing into real world assets through a decentralized venue. The platform has quietly become a go-to spot for trading, building apps, and launching tokens all in one place, and the RWA growth is starting to grow rapidly. It’s fees are competing with top blockchains and stable coin companies within crypto.

 

 

On March 31, Cointelegraph reported that Ripple Prime expanded its Hyperliquid integration with HIP-3. That means institutions now get seamless on-chain perpetuals on traditional assets like gold, silver, oil, and even compute prices.

 

This is the kind of bridge that allows retail to hedge oil exposure at 3 a.m on a Sunday when traditional futures are closed. The same rails powering crypto perps now handle real-world commodities that move markets worldwide. It's infrastructure that pulls capital on-chain because the UX finally matches what people expect from a modern trading venue.

 

On the prime brokerage side, a traditional S&P futures trade runs through six different entities: prime broker, FCM, CME Clearing, and so on with multiple fee layers, T+1 settlement, financing charges, and all the custody overhead that comes with it. On HIP-3, connect your wallet, post USDC margin, trade the perp, and settle instantly on-chain. One fee, self-custody, the smart contract is the clearinghouse, and the blockchain handles custody. It's making large chunks of what they actually do look pretty unnecessary, once the regulatory picture clears up. 

 

Hyperliquid's terms of service explicitly block US users, and enforce this with IP geoblocking, so if you're in the States you'll hit a wall at app.hyperliquid.xyz. The underlying protocol is fully permissionless since it's non-custodial and requires no KYC, but using it from the US still carries real regulatory risk given the CFTC's jurisdiction over leveraged perps. In February 2026 they launched a $29 million Policy Center in D.C. led by Jake Chervinsky, pushing for regulatory clarity around on-chain derivatives. Until something like the CLARITY Act or formal CFTC guidance moves things forward, the restriction is basically the protocol protecting itself while it keeps running 24/7 for the rest of the world. For US builders and investors, the play is watching that policy push closely because when the rails open, the infrastructure is already battle tested and ready to go.

 

Non-crypto assets on Hyperliquid with HIP-3 markets now cover licensed indices like the S&P 500 and Nasdaq 100, individual equities, commodities, and even compute perps tied to GPU rental rates for H100, H200, and A100 chips through projects like Global Compute Index and Hyperbolic. At peak moments these non-crypto pairs have accounted for up to 45% of total volume, with HIP-3 open interest recently sitting around $1.9 billion.

 

Late last year, Aster looked like it could replace Hyperliquid with BNB Chain speed, incentives, and early buzz that some called the “Hyperliquid killer.” Hyperliquid has pulled ahead in TVL, open interest, fees, and real value returned to holders. Aster remains solid, yet Hyperliquid’s dedicated L1 edge with tighter spreads, deeper books, and consistent performance has widened the gap.

 

 

@CosimoCapital posted a thread making a pretty compelling case for why a future proposal of HIP-4 prediction markets could be a serious unlock. The core problem with most prediction market platforms is thin liquidity and parlays that just don't work because every market is isolated from everything else. Hyperliquid flips that by letting prediction markets tap into the same infrastructure already handling massive perpetuals and commodities volume. "When prediction markets share a unified liquidity pool with perpetual markets," Cosimo wrote, "the parlay math transforms completely." One account, cross-margined across oil perps, equity moves, and event outcomes, all settling instantly. It's not just another betting app. It could end up being "the everything market for global event risk."

 

 

This opens up some genuinely interesting scenarios with macro hedges like "if CPI beats and the Fed holds and BTC closes green," or geopolitical risk desks chaining election outcomes to commodity moves, parametric insurance, treasury automation, you name it. Every multi-leg position multiplies fee events too, so five legs means five burns, which turns HIP-4 volume into structural HYPE supply reduction over time. Hyperliquid is pulling in roughly $700 million in annualized trading fees from its perpetuals and spot markets, and around 97 to 99% of it flows automatically into the Assistance Fund, which runs daily HYPE buybacks on a continuous basis. There's constant structural demand and deflationary pressure on circulating supply whether the market is up, down, or sideways.

 

And yet CEXs still dominate headlines, but Hyperliquid delivers the speed and depth traders love as everything is transparent, on-chain, and runs non-stop. For builders shipping interoperability tools, this is the tool that makes cross-border and cross-asset trading feel native.

 

Hyperliquid is quietly becoming a 24/7 venue where crypto-native capital meets macro and physical assets without intermediaries. The current restriction is more about protecting the protocol long term than anything else, and the policy push happening in DC is very much part of the plan. Once clarity comes, the floodgates will open and give a much needed update to trading.