Hyperliquid, a decentralized trading platform, has confirmed its registration in Singapore. The company team, consisting of approximately 11 people led by co-founder Jeff Yan, relocated to the city-state in 2024. Despite this presence, the platform has not applied for a license from the Monetary Authority of Singapore (MAS).
On June 26, the MAS added Hyperliquid to its crypto warning list, which identifies firms that the public might mistakenly believe are regulated by the authority. The regulator stated that the platform does not fall under its jurisdiction due to its decentralized nature. Hyperliquid maintains that it operates as permissionless infrastructure where users retain control of their funds.
The regulatory landscape in Singapore is tightening, with the MAS setting a deadline of June 30, 2025, for local firms serving overseas clients to obtain licenses or cease operations. The regulator has indicated it will generally not grant such licenses for activities like exchange operations and asset custody. Meanwhile, the HYPE token is currently trading at $91.64.
