Booming Crypto Exchange Gets Official S&P Data in ‘TradFi’ Push

S&P Global Inc.’s index arm has for decades licensed the world’s most followed equity benchmark to the stalwarts of regulated finance.

On Wednesday, it added trade.xyz, a crypto startup most of Wall Street has never heard of.

S&P Dow Jones Indices granted trade.xyz the right to offer the first officially licensed derivative contract based on the S&P 500 on Hyperliquid, a decentralized trading platform that has quietly becoming a major venue for leveraged digital-asset trading. The contract — known as a perpetual, because unlike a conventional futures contract it never expires — will allow eligible non-US investors to bet on ...