Phantom Wallet Launches Direct Perpetual Trading Support for EU Users Powered by Hyperliquid

Phantom has introduced support for perpetual contract trading, initially targeting users in the European Union. This new feature enables trading of perpetual futures directly within the Phantom web3 wallet, leveraging Hyperliquid’s API technology.

The integration with Hyperliquid is permissionless, allowing eligible users to trade perpetual contracts while maintaining full non-custodial control over their positions. The platform offers a mobile-first interface designed as a seamless extension of Phantom’s existing wallet experience. Traders can access features such as up to 40x leverage, stop-loss and take-profit orders, along with real-time notifications.

This launch underscores Phantom’s belief that wallets, rather than traditional exchanges, will emerge as the primary portals for onchain activity. Phantom’s announcement arrives amid competitive moves by Coinbase and Robinhood, both of which are advancing their own perpetual trading offerings to attract customers.

Hyperliquid originally began as a high-performance, non-custodial perpetual futures platform. It has since expanded with HyperEVM, an Ethereum-compatible network designed for smart contracts and decentralized applications, built atop its Layer 1 core software, HyperCore. The platform supports collateral deposits from various blockchains, enabling users to trade perpetual contracts and engage with EVM-based contracts without relinquishing self-custody.

Over the past 12 months, Hyperliquid has facilitated more than $1.57 trillion in perpetual futures trading volume, according to previous reports by The Block.

Phantom’s Multi-Chain Expansion Strategy

Phantom launched in 2021 primarily as a web3 wallet focused on the Solana ecosystem, capitalizing on the blockchain’s rapid adoption during that period. However, its multi-chain approach began in April 2023, expanding wallet support to Ethereum and Polygon networks. Later that year, Phantom integrated Bitcoin support in December, adding compatibility for Bitcoin’s Ordinals and BRC-20 tokens.

More recently, Phantom extended access to Coinbase’s Layer 2 network, Base, in November, followed by support for the Move-based Layer 1 blockchain Sui in January. The company also plans to support the upcoming Monad blockchain once it moves out of its testnet phase.

Earlier this year, Phantom raised $150 million in a Series C funding round led by Sequoia Capital and Paradigm, valuing the company at $3 billion. Despite ongoing rumors of an airdrop tied to newly launched social features within the app, Phantom has confirmed that it currently has no plans to issue its own native token.