Intercontinental Exchange announced plans to bring Hyperliquid-based perpetual futures to the US market pending CFTC approval, driving HYPE up 15%.
DeFi & Yields ·
Hyperliquid's HYPE token climbed more than 15% after Intercontinental Exchange announced it would operate Trade[XYZ]'s perpetual futures markets in the US, pending CFTC approval. ICE acquired a minority stake in Trade[XYZ] and plans to build a separate retail clearing structure on Hyperliquid called ICE[XYZ], while keeping its institutional business isolated from retail counterparty risk. The planned contracts will cover equities, indices, commodities, currencies and crypto, with customers accessing them through futures commission merchants after compliance checks.