Phantom has launched a new feature that lets users trade perpetual futures right inside the wallet app, thanks to a partnership with Hyperliquid. This means users would now be able to trade over 100 digital assets, including Bitcoin, Ethereum, Solana, and meme tokens, directly from the Phantom wallet.
Starting this week, a small group of users will get access first, and more users will be added gradually. With this update, Phantom users will be able to take long or short positions with leverage, place stop-loss, and take-profit orders, and manage trades from the Home tab.
This feature is designed for mobile users, so it works smoothly on phones. Users don’t need to connect to other apps or move money across different wallets. When someone wants to trade, their Solana (SOL) token is automatically converted into USDC (a stablecoin) on Hyperliquid.
However, the new feature is not available in every country. Phantom clearly said that users in the United Kingdom are not allowed to use it due to local rules.
Phantom is used by over 15 million people every month, with the average user opening the app about 12 times per day. The wallet holds $25 billion worth of crypto and processes about $20 billion in crypto swaps (trades) every year.
Now, with the Hyperliquid integration, users can trade futures without setting up a new account or learning a new platform. “That’s 15 million MAUs now seeing a perp trading experience front and center on their home screen,” Hyperliquidbull shared on X
If even 10% of Phantom users start trading on Hyperliquid, that would mean 1.5 million new traders. This would be a huge boost for the platform. On centralized exchanges like Binance and OKX, spot trading usually makes up 27% of perp volume. Since Phantom already processes $20 billion per year in swaps, that same ratio suggests up to $74 billion in potential perp trading could be unlocked through this integration.
