Copper, a global builder of blockchain-based infrastructure for secure and efficient collateral mobility, has announced that its platform will support trading access to Hyperliquid's perpetuals markets, enabling institutions to execute at scale with the security and operational controls they require.

Hyperliquid is the leading venue for on-chain derivatives trading, handling more than half of all decentralised perpetuals volume and approximately 8% of open interest across both centralised and on-chain venues. Perpetuals are derivative contracts without a fixed expiry date, while open interest measures the total value of outstanding positions across venues, making those figures a broad gauge of activity in the derivatives market. Until now, however, institutions accessing Hyperliquid natively had to rely on third-party interfaces outside the institutional security environment, introducing key management and operational risks that limited the ability to engage at scale. Copper's new integration addresses this gap with a robust and secure trading interface for Hyperliquid designed specifically for institutions. Through Copper, financial institutions can now manage trading across Hyperliquid and more than 30 centralised exchanges from a single platform.

Elin Cherry, Co-CEO of Copper, said: "Hyperliquid has demonstrated the demand for perpetuals and continuous price discovery. Markets don't stop moving because it's the weekend, and being able to respond to information as it emerges is ultimately a better way to manage risk. As institutional participation grows, the infrastructure supporting these markets needs to keep pace. Copper provides institutions with custody, collateral mobility, and operational controls, enabling access to Hyperliquid at scale."

Trading through Copper's dedicated APIs or its in-platform UI gives institutions access to Hyperliquid's on-chain liquidity while underlying assets remain secure and fully available to support trading on other venues as well. Within the Copper Platform, clients gain access to the Hyperliquid ecosystem, including a trading interface built by Copper. Assets remain secured in Copper's non-custodial MPC infrastructure — where multi-party computation splits cryptographic key material so that no single party holds a complete private key — and Copper's Policy Engine applies the operational controls institutions require, including multi-authorisation workflows, granular permissions, and full audit trails. Through the interface, institutions can manage their trading strategies with the same governance they rely on at traditional trading venues.

Alongside Hyperliquid crypto-perpetuals, the interface also offers access to certain instruments offered by tradeXYZ, a deployer under HIP-3, Hyperliquid's framework for third-party deployment of perpetuals markets, giving institutions access to instruments referencing equities, commodities, and indices within the same secure, governed environment.

The Hyperliquid integration further extends Copper's infrastructure for institutions to trade and manage risk across increasingly continuous, global markets. From the Copper Platform, clients can manage their Hyperliquid activity alongside trading across ClearLoop-connected venues and more than 30 integrated exchanges, reducing the operational complexity of managing collateral across separate trading environments.

ClearLoop, Copper's shared settlement and collateral connectivity layer connecting custodians, prime brokers, trading venues, and post-trade infrastructure providers, enables institutions to manage and mobilise collateral across connected markets. More than $240bn in notional perpetual trading volume was supported by collateral protected by ClearLoop in Q1 2026, up more than 100% year on year.

The launch comes as demand for perpetuals grows and capital markets move toward longer and increasingly continuous trading hours, creating new infrastructure requirements for institutional participants. Copper has built its global proposition around that shift, connecting custody, collateral management, and settlement to enable capital to move when markets move.

The announcement also follows Copper becoming a member of the Financial Industry Regulatory Authority (FINRA), the self-regulatory organisation that oversees US broker-dealers, establishing the firm's presence in the United States capital markets.