Crypto.com and its derivatives partner OG.com have begun offering crypto perpetual futures to eligible customers in the United States, adding another regulated venue to a market that has opened up this year. The contracts carry no expiration date, offer up to 5x leverage, and are available for trading around the clock through the Crypto.com app and exchange.
The rollout is limited to crypto perpetuals. Crypto.com has not disclosed how many users qualify at launch or which US states, if any, are excluded.
How the US launch is structured
The offering is built around a division of regulated functions between Crypto.com and OG.com. Crypto.com recently registered with the National Futures Association as an introducing broker, a status that allows it to distribute the products to customers.
OG.com handles the core market infrastructure through affiliated entities. Its exchange operates as a designated contract market and a derivatives clearing organization, while its brokerage arm is registered with the US Commodity Futures Trading Commission as a futures commission merchant.
Crypto.com founder and chief executive Kris Marszalek, who also leads OG.com, said the setup gives traders direct access to continuous liquidity, flexible leverage and built-in risk controls.
Leverage cap sits within the current US range
The 5x ceiling is modest compared with leverage available on offshore crypto derivatives platforms, but it fits within the range that US regulators have recently described for domestic venues. CFTC Chair Mike Selig has said regulated US crypto derivatives exchanges currently offer leverage of around 7x or less.
The source article notes that the CFTC's October advance notice on retail leveraged crypto transactions is a separate policy track. That notice deals with digital assets bought using margin or financing, rather than cleared futures, and it does not itself set a leverage cap.
Part of a broader buildout in regulated perpetuals
Crypto.com's entry follows a series of moves that expanded the US market for crypto perpetual futures. In May, the CFTC decided to open the market to crypto perpetuals. In June, the agency outlined a framework for registered platforms, approved Kalshi to list bitcoin perpetuals, and enabled Coinbase's US customers to access global perpetual futures through an affiliate.
Other firms have also moved quickly. Kalshi and Polymarket entered the segment, while Kraken launched regulated perpetuals in June after completing its $550 million acquisition of the Bitnomial exchange. Blockhead also reported on September 30 that Robinhood brought leveraged crypto perpetuals to US users.
OG.com’s wider ambitions and Robinhood ties
OG.com's exchange, Nadex, registered with the SEC last month to trade security futures. Marszalek has also said the company is working with both the SEC and the CFTC on single-stock perpetual futures, indicating that the group is exploring products beyond crypto.
Crypto.com's relationship with OG.com also intersects with Robinhood. Blockhead reported in September that Robinhood chose OG.com to power its prediction markets and took equity stakes in both Crypto.com and OG.com. That means the companies are now partners in prediction markets while competing in the market for perpetual futures.
What comes next
With several regulated US platforms now listing perpetual products, competition may increasingly depend on practical differences rather than simple access. Fees, margin requirements, available contracts and the amount of liquidity each venue can attract are likely to shape how the market develops from here.
The near-term indicator will be early trading activity. Crypto.com has not yet provided launch-state details or customer counts, so the first weeks of volume may show whether the new venue broadens participation or mainly divides activity across more platforms.
Source: www.blockhead.co