Hyperliquid confirms Singapore base, but MAS says it is not the regulator

Hyperliquid Labs has confirmed that its headquarters is in Singapore. The Monetary Authority of Singapore (MAS) is the city-state’s central bank and financial regulator, and it has a notable response: it does not regulate the trading venue. A Singapore address without a Singapore license Co-founder Jeff Yan moved the team to Singapore in 2024. Hyperliquid has now confirmed the city-state as its home base. Hyperliquid runs a decentralized perpetual futures platform. Perpetual futures are derivatives that let traders bet on an asset’s price without an expiry date, often with leverage. The platform offers high-leverage perpetual trades across a range of assets. It operates one of the largest derivatives markets in crypto by open interest. Open interest is the total value of contracts that remain open at a given moment. According to the Financial Times, people familiar with MAS’s thinking say the regulator considers the decentralized venue to be outside its jurisdiction. MAS has also stated that it does not regulate the trading venue because of its decentralized structure. The company’s registration in Singapore does not change that position. The investor alert list On June 26, 2026, M...