Hyperliquid Strategies Unit Seeks U.S. Futures Commission Merchant Status

A subsidiary of Hyperliquid Strategies has applied to become a U.S. futures commission merchant (FCM), a role that would put it in position to hold U.S. customer accounts for permissioned HIP-3 markets on Hyperliquid if approved.

The request remains conditional: the subsidiary would take on account custody only after approval. It has applied for futures commission merchant status, abbreviated FCM, and the stated customers are in the United States. The proposed accounts are tied to permissioned HIP-3 markets on Hyperliquid.

The proposed custody remains conditional on approval, rather than a service already in operation. The requested status is the condition for the subsidiary to assume that role.

For U.S. users, the proposal concerns which entity would hold their accounts for permissioned Hyperliquid markets. If approved, the subsidiary would perform that role for HIP-3 markets; the application does not indicate that custody has begun. The next step is an approval decision on the application.