Intercontinental Exchange (ICE) and Trade[XYZ] signed an agreement to bring Hyperliquid-based perpetual futures to the United States. ICE will be the exclusive operator of Trade[XYZ]’s regulated markets and is taking a strategic stake in the company. The U.S. product still needs regulatory approval and has no launch date.
ICE plans to build a separate retail market and clearing structure. Verified customers would use futures brokers, and ICE’s planned distribution through its OKX joint venture depends on approvals still pending for OKX. HYPE, Hyperliquid’s token, rose about 13% to roughly $91 after the announcement; it climbed from a daily open of $80.69 to a high of $92.10 on KuCoin.
