Silhouette debuts RFQ trading for xStocks on Hyperliquid

Silhouette has introduced request-for-quote (RFQ) trading functionality for xStocks on the Hyperliquid platform, enabling market makers to bid competitively on tokenized equity orders that settle directly on the blockchain. The feature represents an expansion of on-chain equity trading infrastructure, allowing participants to route stock trades through a decentralized mechanism rather than traditional order-book models.

The move addresses liquidity fragmentation in tokenized equities by letting multiple market makers respond to individual trade requests, potentially improving execution quality and price discovery for participants seeking to trade stocks on blockchain rails.

• Silhouette's RFQ system shifts equity trading from standard order books to a competitive bidding model on Hyperliquid.
• On-chain settlement removes intermediaries from the equity trading workflow.
• The feature targets market makers looking to provide liquidity in the emerging xStocks segment.