The partnership targets global investors with crypto-native derivatives tied to Brent and WTI benchmarks amid rising Middle East tensions.
Intercontinental Exchange and OKX are introducing regulated perpetual futures linked to Brent and WTI oil benchmarks for traders outside the U.S. The move aims to provide crypto-native access to traditional energy markets, competing with decentralized platforms like Hyperliquid.
The derivatives will track ICE’s oil futures prices, allowing 24/7 speculation on a market influenced by geopolitical risks, including Middle East conflicts disrupting the Strait of Hormuz. Target regions include the UAE, Europe, Australia, and Singapore.
The launch follows a reported DOJ and CFTC probe into suspicious pre-announcement oil trades, adding regulatory scrutiny to the expanding digital commodities market.