Phantom, a non-custodial cryptocurrency wallet, has launched "Phantom Perps," a new perpetual futures trading feature powered by Hyperliquid. This integration enables users, initially in the European Union, to trade over 100 markets with leverage up to 40 times directly within the Phantom wallet. The feature represents an expansion of Phantom's trading capabilities, allowing users to go long or short on a wide range of assets with ease. Phantom currently serves 15 million monthly active users and processes approximately $20 billion annually in spot swaps. The introduction of perpetual futures trading is expected to significantly increase on-chain trading activity, potentially doubling the current perpetual futures user base if 10% of users adopt the new feature. Earlier in 2025, Phantom raised $150 million in a Series C funding round, valuing the company at $3 billion. The company has not announced plans to extend the feature beyond the EU at this time.