Key facts
- HYPE token rallied over 10% to $90.
- ICE plans to partner with Trade [XYZ] for a new market.
- The venue would offer perpetual futures on stocks, indices, commodities, forex, and cryptocurrencies.
- The plan requires approval from the Commodity Futures Trading Commission (CFTC).
Intercontinental Exchange (ICE), the owner of the New York Stock Exchange, is planning to launch a regulated U.S. market for perpetual futures, utilizing the infrastructure of Hyperliquid. The proposed venue, developed in partnership with Trade [XYZ], aims to offer 24/7 trading of various assets including stocks, indices, commodities, foreign exchange, and cryptocurrencies. This initiative requires approval from the Commodity Futures Trading Commission (CFTC) and will feature regulated clearing, identity checks, and anti-money-laundering controls. The announcement has already seen Hyperliquid's native token, HYPE, surge by over 10% to trade at $90. Trade [XYZ] has reported significant volume on its Hyperliquid markets, exceeding $650 billion. This move by ICE follows similar plans by Payward, the parent company of Kraken, to offer regulated perpetual futures on Hyperliquid to U.S. traders.