OKX Launches 10x OpenAI, Anthropic Pre-IPO Perps in Europe, Casting Light on Worldcoin (WLD)

OKX Opens 10x Pre-IPO Perps to European Traders

OKX opened pre-IPO perpetual futures on OpenAI and Anthropic to eligible European traders on Sep. 10, giving the region's users a leveraged way to trade the direction of two private companies they cannot buy shares in directly. The contracts, which the exchange markets as X-Perps, let traders go long or short on the implied valuations of the two AI firms with leverage of up to 10x. Because the instruments are derivatives on a reference price rather than equity, holders receive no shares, no economic claim against either company and no path onto a shareholder register — and the exchange's own disclaimer notes that an initial DEX offering or traditional IPO could be delayed, canceled or never take place at all. Alongside the private-company contracts, OKX switched on 100 tokenized stock and ETF markets, including SpaceX, Google, Nvidia, Palantir, SPY and QQQ, all tradable around the clock even when the underlying cash markets are shut. Supported order types run from limit and market through TWAP and Iceberg, eligible token positions can post as collateral for X-Perps, and supported stock tokens can be withdrawn to a cold wallet or other self-custody address. OKX Europe CEO Erald Ghoos framed the rollout around demand, saying European X-Perps volume has grown fourfold since the MiCA transition period ended in July, and that the exchange wants users to trade larger positions without migrating to unregulated venues. The services run through OKX Europe Markets Ltd., which the company says is authorized by the Malta Financial Services Authority.

OKX's September 10 announcement of pre-IPO access and tokenized stocks in Europe

https://x.com/okx/status/2097958461254590855?ref_src=twsrc%5Etfw

Hyperliquid and Binance Move First on Private Markets

OKX is not the first crypto venue to list markets on private AI companies. Hyperliquid already runs OpenAI and Anthropic markets through its HIP-3 framework, while Binance offers pre-IPO perpetual contracts on both names, so the European rollout is as much a competitive catch-up as a product innovation. The appeal is straightforward: private shares in OpenAI and Anthropic change hands mainly through funding rounds and secondary sales that screen out most retail participants, and a perp converts that closed market into something anyone with an account can trade — with all the slippage and leverage risk that implies. The ownership question that shadows tokenized equities is live here too. AMC Entertainment publicly objected to a Robinhood token linked to its shares, with CEO Adam Aron saying the company had neither approved nor participated in the product, and OpenAI issued a similar statement in July 2025, saying it had not partnered with or endorsed tokens distributed over its equity. In the United States, regulators are weighing a different model: SEC staff have worked on a limited exemption that could let selected platforms test tokenized securities, while stressing that putting a stock on a blockchain does not remove it from securities law. Nasdaq's approved pilot, cleared in March, lets eligible participants trade certain Russell 1000 stocks and major index ETFs in tokenized form with identical pricing and shareholder rights — a structure that contrasts sharply with OKX's price-exposure-only instruments. Readers tracking the market in real time can follow live spot and futures prices on Binance.

Altman's Two Bets Converge on Worldcoin (WLD)

For Worldcoin (WLD) traders, the significance of OKX's launch runs through Sam Altman, who co-founded both OpenAI and the iris-scanning identity project behind the WLD token. A liquid, round-the-clock market that prices OpenAI's implied valuation gives WLD holders a new, tradable sentiment gauge for the most valuable company in Altman's orbit — a signal our desk has tracked across prior OpenAI developments that put Worldcoin (WLD) in focus, including the pre-IPO credit-rating push by OpenAI and Anthropic. The 100 tokenized equities deepen the overlap, since altcoin and stock flows now sit in one account on the same venue. The exchange's official announcement is clear, though, that the perps carry no claim on the private firms — the WLD connection is narrative and sentiment, not cash-flow. WLD itself traded roughly 7% lower over the past 24 hours at the time of writing.