NYSE's Parent Company Wants to Bring 24/7 Onchain Perpetual Futures to the Masses — Here's What That Means
75d ago · 1 source
Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, is pushing for a 'level playing field' in the world of 24/7 onchain perpetual futures trading. The move signals a major traditional finance player looking to bridge the gap between legacy markets and decentralized crypto trading infrastructure. ICE appears to be exploring integration or competition with existing onchain perpetual platforms like Hyperliquid.
WHY IT MATTERS
Imagine the company that runs the New York Stock Exchange — one of the biggest financial marketplaces on Earth — saying it wants to play in the same sandbox as crypto-native trading platforms. Perpetual futures (or 'perps') are a popular crypto trading product that lets you bet on whether an asset's price will go up or down, without the contract ever expiring — unlike traditional futures that have set end dates. Right now, these mostly trade on crypto-specific platforms that run 24/7 on blockchains. ICE stepping into this space is like a major airline saying it wants to compete with budget carriers — it legitimizes the market and could bring a flood of new money and users, but it also means the rules of the game might change for everyone.
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