NYSE owner ICE joins Trade.xyz to offer Hyperliquid perpetual futures in US

Bloomberg reported that Intercontinental Exchange (ICE), the NYSE owner, teamed up with Trade.xyz to introduce perpetual futures trading in US regulated markets via Hyperliquid's blockchain, sending the HYPE token higher.

Under the plan, the market would provide perpetual futures tied to equities, equity indexes, commodities, and currencies. It would feature its own clearing system, KYC processes, and AML safeguards, pending regulatory clearance. The move marks a notable advance in taking Hyperliquid's onchain derivatives model into mainstream US finance.

The alliance would substantially broaden Hyperliquid's potential market. The platform has become a leading destination for onchain perpetual futures, with contracts covering traditional assets like oil, gold, and equity indexes. Offering these products in a regulated US setting would draw more institutional players and boost trading volumes.

Revenue from trading fees enables Hyperliquid to buy its HYPE token via an assistance fund. The new market is expected to drive further activity, supporting the ecosystem's financial dynamics and enhancing the bullish outlook for the token.

Hyperliquid Strategies, a Nasdaq-listed company tied to the HYPE treasury, offers indirect exposure to Hyperliquid. Its stock, using ticker PURR, showed a 16% gain in pre-market trading. This provides a conventional equity security exposure.