ICE and OKX will launch perpetual Brent and WTI oil futures, the first product from ICE's $200M investment in the crypto exchange valued at $25B.

The new partnership comes as Hyperliquid’s oli futures contracts that never expire have been a huge success with over $1.6 billion in 24-hour trading volume.

OKX debuted perpetual oil futures tied to Intercontinental Exchange’s benchmarks, the latest sign of growing competition for Hyperliquid.