TheBlock
Crypto.com and derivatives partner OG.com have begun rolling out crypto perpetual futures to eligible U.S. traders, offering up to 5x leverage on contracts with no expiration date. The products support bets on rising or falling crypto prices, along with take-profit and stop-loss orders and isolated margin. Tuesday's release did not specify the eligibility requirements.
Why it matters
The launch marks another step in the expansion of regulated U.S. access to crypto perpetuals, a product that has largely been associated with offshore venues. Crypto.com recently registered as an introducing broker with the National Futures Association, while the contracts run through OG.com's CFTC-regulated exchange, clearinghouse and futures commission merchant.
The rollout follows the CFTC's May decision to open U.S. markets to crypto perpetuals. The agency approved Kalshi's bitcoin perps and granted Coinbase no-action relief to offer digital commodity derivatives. Kraken later launched U.S. perps on Kraken Pro after acquiring Bitnomial.
Market impact
For traders, the product combines leverage with perpetual contracts that do not expire, but access remains limited to eligible users and the release provides no further detail on that definition. Isolated margin and risk-management orders give the offering a structure familiar to derivatives users, while the 5x ceiling sets a defined limit on leverage.
Crypto.com's broader derivatives push also reaches beyond crypto. Nadex, the exchange operating under OG.com, registered with the SEC to trade security futures last month. CEO Kris Marszalek said the company was working with the SEC and CFTC on single-stock perpetual futures, suggesting that regulatory approval is becoming the key gate for expanding the product set.
Frequently asked questions
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What are Crypto.com's new U.S. perpetual futures?
They are crypto derivative contracts with no expiration date that let eligible U.S. traders take positions on rising or falling crypto prices.
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How much leverage do the new contracts offer?
The products offer up to 5x leverage. They also include isolated margin, take-profit orders and stop-loss orders.
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Who provides the regulated infrastructure for the perps?
The contracts run through OG.com's CFTC-regulated exchange, clearinghouse and futures commission merchant. Crypto.com registered as an introducing broker with the National Futures Association.
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Who is eligible to trade Crypto.com's U.S. perps?
The rollout is limited to eligible U.S. traders, but the Tuesday release did not specify the eligibility requirements.
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Could Crypto.com offer single-stock perpetual futures?
The company is working with the SEC and CFTC on single-stock perpetual futures. Nadex, the exchange operating under OG.com, has registered with the SEC to trade security futures.
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