Crypto.com and its derivatives partner OG.com have begun offering crypto contracts with no expiration date and up to 5x leverage to eligible investors in the United States.
According to The Block, the service launched Tuesday allows investors to take positions on whether crypto prices will rise or fall. These contracts, known as perpetual futures, have no set expiration date.
The products are not unconditionally available to all U.S. users. The announcement specified that investors must meet eligibility requirements to use the service, but did not provide details about those requirements.
Leverage and position management options
The new contracts offer up to 5x leverage. Investors can place take-profit and stop-loss orders, and the platform also offers an isolated margin option, in which collateral is allocated to the relevant position.
Crypto.com said it recently registered with the U.S. National Futures Association (NFA) as an introducing broker to offer these products. Trading is conducted through OG.com’s infrastructure for a CFTC-regulated exchange, clearinghouse, and futures commission merchant.
Competition in U.S. perpetual futures market heats up
The launch follows steps taken by the CFTC in May to open the U.S. market to crypto perpetual futures. The agency approved Kalshi’s Bitcoin perpetual futures and granted Coinbase regulatory relief from enforcement under certain conditions for digital commodity derivatives. Kraken also launched perpetual futures in the U.S. through Kraken Pro in June following its acquisition of Bitnomial.
Crypto.com is also targeting stock derivatives. Nadex, which operates under OG.com, registered with the SEC last month for security futures. CEO Kris Marszalek had said the company was working with the SEC and CFTC to offer single-stock perpetual futures.
With the launch of crypto contracts, stock-based perpetual futures are emerging as the company’s next product area in development.
Not investment advice.