NYSE Parent, OKX Counter Hyperliquid With Regulated Oil Perpetual Futures
OKX is launching crypto-native perpetual futures for traders outside the U.S., modeled on Intercontinental Exchange’s (ICE) benchmarks for Brent and WTI oil. This move targets clients in the UAE, Europe, Australia, and Singapore, aiming to connect traditional commodity markets with digital asset infrastructure. The perpetual futures products allow round-the-clock speculation on oil prices, a market that has drawn attention due to geopolitical tensions affecting supply routes like the Strait of Hormuz. Meanwhile, U.S. authorities are investigating suspicious oil-related trades ahead of critical political announcements. The release comes amid competition with Hyperliquid, a decentralized exchange that does not require KYC and quickly gained leadership in open-access perpetual futures since its 2023 debut. Hyperliquid currently has $9.6 billion in open trades, while Binance leads with $26 billion and OKX stands at $8.2 billion. Hyperliquid’s token recently surged 39% in value, nearing its all-time high, as debates over regulation and market integrity intensify in the sector.
