Hyperliquid is moving beyond its position as a leading decentralised cryptocurrency derivatives platform as traditional financial institutions explore ways to use its infrastructure for regulated trading. The platform has generated substantial revenue over the past year, while its HIP-3 upgrade has opened its order book to third-party markets offering exposure to stocks, commodities and other real-world assets. These developments are attracting major financial players, including Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, and Payward, the parent company of Kraken.