ICE makes strategic investment in trade[XYZ] as part of Hyperliquid ecosystem expansion.
DeFi & Yields ·
ICE, owner of the New York Stock Exchange, is making a strategic investment in trade[XYZ] as the two entities move to establish a U.S.-regulated market for perpetual futures on Hyperliquid. The partnership aims to bring 24/7 trading of equities, indices, commodities, foreign exchange, and crypto to American participants, subject to CFTC approval. [trade[XYZ]'s markets on Hyperliquid have generated over $650 billion in volume in just over a year](https://x.com/tradexyz/status/2115755854125478285), serving as price discovery mechanisms when traditional markets are closed.
The collaboration combines ICE's 25-year track record operating regulated exchanges, clearing systems, and risk management infrastructure with trade[XYZ]'s product development and market design capabilities on Hyperliquid. Access to the planned U.S. market will flow through participating brokers and platforms. Prominent investor Stan Druckenmiller has also joined as part of a small group of additional backers, according to the announcement.
The new U.S. market will operate alongside trade[XYZ]'s existing HIP-3 markets on Hyperliquid, with both expected to expand independently. Regulatory approval from the CFTC remains pending, and details on contract eligibility, product specifications, and launch timing will be disclosed as the approval process advances.