Hyperliquid CEO Predicts All Exchanges Will Adopt Public Chain Infrastructure in the Next Decade

Hyperliquid's Policy Center CEO Jake Chervinsky stated at the Digital Asset Summit 2026 Asia in Singapore that all exchanges, including CME Group and Intercontinental Exchange (ICE), will adopt public chain infrastructure in the next decade if they want to remain competitive. He emphasized that Hyperliquid is not an exchange but rather an infrastructure for various participants, similar to Bitcoin, Ethereum, and Solana, arguing that there is no reason for public chains to register as exchanges. Chervinsky noted that Hyperliquid does not intend to compete with Kalshi, Coinbase, Robinhood, and CME, but rather operates at the next layer of the tech stack to help these institutions improve their products. He predicts that in ten years, whether it is crypto-native exchanges like Kraken and Coinbase or traditional exchanges like ICE and CME, they will all need to integrate this technology to compete. Additionally, he pointed out that on-chain markets need to come under U.S. regulatory oversight, and he expects this process to be realized in the near future. This statement comes in the context of Payward announcing in September its plans to deploy a licensed perpetual contract market on Hyperliquid for U.S. customers, which will be created and cleared by Bitnomial under CFTC regulation.

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