ICE, Trade.xyz to launch regulated 24/7 Hyperliquid futures
6.6 Investments ICE and Trade.xyz to launch a regulated U.S. market for 24/7 perpetual futures on Hyperliquid, pending CFTC approval. ICE acquires a stake in Trade.xyz; $HYPE token rises 10%.
Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, is partnering with Trade.xyz to develop a regulated U.S. market for 24/7 perpetual futures contracts, utilizing Hyperliquid technology. The new platform will feature integrated clearing, know-your-customer (KYC), and anti-money laundering (AML) systems. It plans to offer contracts based on equities, indices, commodities, foreign exchange, and cryptocurrencies, pending approval from the Commodity Futures Trading Commission (CFTC). As part of the agreement, ICE will acquire an equity stake in Trade.xyz. Following the announcement, Hyperliquid’s native token, $HYPE, surged 10%, reflecting increased market interest. Trade.xyz operates under Hyperliquid’s HIP-3 framework, which requires builders to lock up 500,000 HYPE tokens for at least 183 days. This initiative aims to address U.S. demand for continuous futures trading, as offshore perpetual markets have reached $650 billion in volume. Details regarding the launch date and eligibility for the new venue have yet to be disclosed.
