ICE dey beg regulators make dem approve 24/7 on-chain perps wey OKX oil futures dey back
Intercontinental Exchange (ICE, wey be NYSE parent) tok say regulators suppose make one “level playing field” for 24/7 onchain perps — dem argue say regulated exchanges dey blocked from launching products wey dey already trade for crypto venues like Hyperliquid.
ICE CEO Jeffrey Sprecher tok for Bernstein conference say the company don do exploratory talks with Hyperliquid to study how TradFi and onchain perpetuals fit work together. The main request na regulatory clarity: either make dedicated onchain derivatives framework or make clear classification under existing rules (e.g., U.S. swaps regulation like Dodd–Frank, or Europe’s EMIR).
The push dey come alongside TradFi-to-crypto momentum. OKX announce say dem go launch perpetual futures wey go reference ICE’s Brent crude and WTI benchmarks — na dem first initiative under expanded ICE–OKX partnership after ICE put investment wey value dem at $25B for March. Earlier for March, NYSE partner with tokenization platform Securitize for blockchain-based stock infrastructure wey target 24/7 trading and settlement.
Sprecher highlight Hyperliquid rapid growth and talk say continuous trading fit improve efficiency and price discovery. Him frame the matter as competitive pressure from always-on crypto markets. If regulators move make dem approve 24/7 onchain perps, e fit accelerate TradFi derivatives rollout and make competition for perpetuals markets dey stronger.
(Keyword emphasis: 24/7 onchain perps, onchain perpetuals, regulatory approval.)
Bullish
ICE dey push for "level playing field" directly target di market structure for 24/7 onchain perps. Together wit OKX wey launch ICE Brent/WTI perpetuals, di news dey signal say TradFi-to-crypto product momentum dey rise and e fit open regulatory path for always-on perpetual markets.
Short-term, traders fit reason bullish about perpetual liquidity and new contract availability (more benchmarks, more participation). Di Hyperliquid discussion still reinforce expectation say continuous trading venues go dey attract flow, wey fit tighten spreads and increase volume.
Long-term, if regulators clarify or relax how 24/7 onchain perps dey categorized, e fit unlock more regulated issuers and deeper institutional participation—which usually dey supportive for derivatives volumes and demand for risk-transfer. Di main counter-risk na regulatory delay or uncertainty, wey fit cap near-term follow-through. Overall, di direction of travel for product announcements and regulatory framing dey point to higher adoption and competitive intensity, wey dey bullish for onchain perp ecosystem trading activity.