Key Takeaways
- Crypto.com and OG.com launched regulated crypto perpetuals for eligible U.S. traders on Oct. 27.
- Crypto.com’s new contracts offer up to 5x leverage without expiration dates.
- OG.com’s regulated infrastructure supports trading through the Crypto.com App and Exchange.
Crypto.com Expands U.S. Derivatives Access With 24/7 Trading
On Tuesday, OG.com and Crypto.com announced the launch of crypto perpetual contracts across the Crypto.com App and Crypto.com Exchange, extending leveraged digital asset trading to eligible U.S. customers through a Commodity Futures Trading Commission (CFTC)-regulated framework.
The rollout follows Crypto.com’s registration as an introducing broker with the National Futures Association. OG.com operates a CFTC-regulated exchange, clearinghouse and futures commission merchant, establishing the infrastructure supporting the new offering.
Unlike conventional futures contracts, which expire on predetermined dates, perpetual derivatives allow traders to maintain positions indefinitely, provided they satisfy applicable margin requirements.
The contracts support long and short positions, up to 5x leverage, isolated margin, and take-profit and stop-loss orders. Retail customers can access the products through Crypto.com’s mobile application, while institutional and experienced traders receive access through its exchange.
From Offshore Trading Floors to Regulated U.S. Markets
Perpetual futures have a curious history in the land of crypto derivatives. Economist Robert Shiller proposed the underlying concept in 1993, but cryptocurrency exchanges eventually transformed it into one of the industry’s busiest trading instruments.
Bitmex helped popularize the modern crypto perpetual swap in May 2016, introducing its XBTUSD contract with leverage reaching 100x. The instrument eliminated the recurring headache of rolling expiring futures positions into new contracts.
Perpetuals typically rely on funding payments between long and short traders to keep contract prices aligned with underlying spot markets. When contracts trade above their reference prices, longs generally compensate shorts. The reverse occurs when contracts trade below those benchmarks.
The arrangement supports continuous speculation and hedging, although funding expenses and margin requirements can quickly complicate leveraged positions. Crypto.com’s U.S. offering limits leverage to 5x, considerably below the 20x to 100x exposure available on numerous international cryptocurrency derivatives platforms.
Crypto.com Targets Retail and Institutional Traders
Kris Marszalek, founder and CEO of OG.com and Crypto.com, described the launch as another step toward consolidating financial products within a single trading environment. “Whether hedging a crypto portfolio or capitalizing on 24/7 price action, our traders now have direct access to continuous liquidity, flexible leverage, and built-in risk controls,” Marszalek said.
The companies intend to integrate perpetual derivatives alongside existing spot cryptocurrency services, prediction markets and rewards offerings. For crypto traders, the appeal is straightforward: positions can remain open without expiration, and leverage allows larger market exposure with less initial collateral. Yet liquidation remains a possibility when adverse price movements exhaust available margin.
The launch also reflects a broader migration of perpetual-style derivatives from offshore cryptocurrency exchanges into regulated American financial infrastructure. An instrument once associated primarily with overseas trading venues is now competing for customers inside the U.S. regulatory perimeter.
