NYSE parent ICE is teaming up with Trade[XYZ] to bring Hyperliquid-based perpetual futures onshore to the US (pending CFTC approval).
The plan: dedicated exchange + clearing built on Hyperliquid rails, KYC/AML compliant, offering 24/7 perps on equities, indices, commodities, FX, and crypto. ICE is taking a strategic stake in Trade[XYZ].
Trade[XYZ]’s existing Hyperliquid markets have already cleared $650B+ in volume. HYPE ripped higher on the news as whales piled into longs.
TradFi infrastructure meeting crypto’s 24/7 perp rails, this is one of the cleaner bridges we’ve seen. Worth watching how (or if) it actually gets through regulators and what it does to liquidity across both sides.