Phantom Partners Hyperliquid for Cross-Chain Perpetual Trading

Hyperliquid, a self-funded perpetual trading platform, has announced a strategic partnership with Phantom, a prominent web3 wallet, to integrate perpetual trading directly into the Phantom interface. This collaboration, revealed on July 8, 2025, aims to enhance cross-chain functionality and provide users with a seamless trading experience. Phantom's CEO, Brandon Millman, highlighted the goal of bringing over 100 markets into a user-friendly environment, allowing Phantom users to access perpetual trading across multiple blockchains, including Ethereum, Solana, Arbitrum, and BNB Chain. This integration is expected to expand Phantom's user base, which currently stands at over 15 million, and drive retail and DeFi trading volumes without the need for additional venture capital.

The integration of Hyperliquid's perpetual trading capabilities into the Phantom wallet is designed to offer users a mobile-first approach, ensuring an intuitive experience that extends Phantom's core interface. The feature includes up to 40x leverage, stop-loss, take-profit, and real-time alerts, making it a robust tool for traders. Phantom's move underscores its belief that wallets, rather than exchanges, will become the primary gateway for onchain activities. This development comes as other major players in the industry also make strides in the perpetual trading space, indicating a competitive landscape in attracting users.

Hyperliquid, which began as a high-performance, non-custodial perpetual futures platform, has expanded its offerings with HyperEVM, an Ethereum-compatible network for smart contracts and decentralized applications (dApps). Built on its Layer 1 foundational software, HyperCore, this network supports collateral deposits from multiple blockchains, enabling users to trade perpetual contracts and interact with EVM contracts while maintaining self-custody. This integration with Phantom further solidifies Hyperliquid's position in the market and highlights the growing trend of cross-chain wallet innovations.

Phantom's journey began with a focus on the Solana ecosystem in 2021, capturing the wave of adoption during the bull run. However, its strategy has evolved to include support for multiple blockchains. In April 2023, Phantom expanded to the Ethereum and Polygon blockchains, followed by a Bitcoin integration in December 2023, which added support for the foremost cryptocurrency, Ordinals, and BRC-20 tokens. More recently, Phantom has rolled out access to the Coinbase-incubated Layer 2 network Base in November and the Move-based Layer 1, Sui, in January. The wallet also plans to support the much-anticipated Monad blockchain upon its launch, which is currently in the testnet phase.

Earlier this year, Phantom announced a $150 million Series C funding round led by Sequoia and Paradigm, valuing the company at $3 billion. Despite rumors of an airdrop amid the deployment of social features on the app, Phantom has clarified that it has no plans to launch a token of its own. This integration with Hyperliquid further solidifies Phantom's position as a leading player in the web3 wallet space, offering users a comprehensive and secure trading experience. The partnership highlights the potential for increased trading volumes and community incentives, as well as the growing importance of cross-chain wallet innovations in the financial markets.