Crypto.com Brings Perpetual Futures to US Customers With a 5x Cap

Crypto.com and its derivatives partner OG.com began offering crypto perpetual futures to eligible US customers on Tuesday, with leverage of up to 5x and no expiration dates. The contracts trade around the clock through the Crypto.com app and exchange.

The structure splits the regulated roles. Crypto.com recently registered with the National Futures Association as an introducing broker, which lets it distribute the products. OG.com's exchange operates as a designated contract market and derivatives clearing organization, and its broker arm is registered with the CFTC as a futures commission merchant. The launch covers crypto perpetuals only. Crypto.com founder and chief executive Kris Marszalek, who also leads OG.com, said traders now have direct access to continuous liquidity, flexible leverage and built-in risk controls.

Offshore venues offer far higher leverage, which is the gap the regulated US products are trying to close. CFTC Chair Mike Selig has said US-regulated crypto derivatives exchanges currently offer around 7x or less. The CFTC's October advance notice on retail leveraged crypto transactions is a separate track, covering coins bought on margin or financing. A 5x cap on a cleared futures product sits under the ceiling Selig described, and the notice does not set a leverage cap of its own.