The international crypto exchange and New York Stock Exchange parent are targeting traders in the UAE, Europe, Australia, and Singapore, billing the move as “a major step forward in expanding regulated access to global commodity markets through digital asset infrastructure.”
The derivatives offered by OKX, known as perpetual futures, will be tied to ICE’s prices for Brent and WTI oil futures—allowing traders to speculate around the clokc on a market that’s drawn increasing attention since conflict in the Middle East choked the Strait of Hormuz.
“Oil markets are critical to the world economy,” OKX Global Managing Partner Haider Rafique said in a statement. “Bringing them into regulated perpetual futures is exactly the kind of bridge between traditional and digital markets that market participants have been asking for.”
Hyperliquid, which debuted in 2023, has emerged as the undisputed leader in offering open access to perpetual futures, which, unlike traditional futures, never expire and can be held open indefinitely, anchored by periodic payments between traders.
Hyperliquid’s native token recently changed hands around $60.18, a 39% increase over the past seven days. That wasn’t far off from an all-time high notched by the digital asset the day before.
