Shift

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Crypto.com and OG.com have launched regulated cryptocurrency perpetual futures for eligible US traders, marking another step toward bringing a product long associated with offshore exchanges into the regulated American derivatives market.
The new contracts allow traders to take long or short positions on digital assets without a fixed expiration date and offer leverage of up to 5x.
According to the <a href="https://crypto.com/en-fr/company-news/ogcom-and-cryptocom-expand-derivatives-offering-with-launch-of-regulated-crypto-perpetuals-for-the-us-market" rel="noopener noreferrer nofollow">official announcement from Crypto.com</a>, the products are being distributed through OG.com's network, including the Crypto.com App for retail users and the Crypto.com Exchange for institutional and advanced traders.
The launch comes as US regulators continue clarifying how perpetual-style crypto derivatives can operate inside the existing futures framework.
<h2 id="crypto-com-brings-perpetual-futures-to-us-traders">Crypto.com Brings Perpetual Futures to US Traders</h2>
Crypto perpetual futures have become one of the most heavily traded instruments in digital asset markets.
Unlike traditional futures, which settle or expire on a fixed date, perpetual contracts are designed to remain open indefinitely as long as traders continue to meet margin requirements.
The new Crypto.com and OG.com offering gives eligible US traders access to this structure through regulated derivatives infrastructure.
The contracts support leverage of up to 5x and include common risk-management tools such as take-profit and stop-loss orders.
Crypto.com says the products trade continuously, allowing users to maintain exposure around the clock rather than being restricted to traditional market hours.
The exchange recently registered as an Introducing Broker with the National Futures Association, enabling it to distribute the products to US customers through OG.com's infrastructure. (<a href="https://www.theblock.co/news/markets/2026-10-27-crypto-com-og-com-launch-us-crypto-perps-up-to-5x-leverage-431902" rel="noopener noreferrer nofollow">The Block</a>)
<h2 id="why-perpetual-futures-matter-for-crypto-traders">Why Perpetual Futures Matter for Crypto Traders</h2>
Perpetual futures play a central role in global cryptocurrency trading because they combine continuous exposure with leverage and do not require traders to roll positions from one futures contract into another.
That structure makes them particularly useful for short-term traders, market makers and investors looking to hedge spot exposure.
A trader holding Bitcoin, for example, can open a short perpetual position to reduce downside exposure without selling the underlying BTC.
At the same time, leverage allows traders to control positions larger than their posted margin.
That can increase capital efficiency, but it also magnifies losses.
A 5x leveraged position moves approximately five times as much relative to the trader's initial margin compared with the same unleveraged exposure.
For that reason, the introduction of regulated US perpetuals is not simply a matter of adding another trading pair.
It creates a domestic venue for a type of leveraged product that US traders previously often accessed through offshore platforms.
<h2 id="the-cftc-has-been-opening-the-door-to-crypto-perpetuals">The CFTC Has Been Opening the Door to Crypto Perpetuals</h2>
The regulatory environment changed significantly earlier in 2026.
In May, the Commodity Futures Trading Commission issued a <a href="https://www.cftc.gov/PressRoom/PressReleases/pr-9242-26" rel="noopener noreferrer nofollow">policy statement concerning perpetual contracts</a>, clarifying that perpetual products can be listed within the US futures framework subject to appropriate review.
The CFTC also addressed the treatment of crypto perpetuals offered through regulated intermediaries.
In a separate <a href="https://www.cftc.gov/PressRoom/PressReleases/9241-26" rel="noopener noreferrer nofollow">May 29 staff action</a>, the regulator confirmed that certain digital commodity perpetuals could be treated as foreign futures under existing rules.
That decision related to Coinbase Financial Markets and its planned access to perpetual products listed through Deribit.
In June, the CFTC went further by granting <a href="https://www.cftc.gov/PressRoom/PressReleases/9252-26" rel="noopener noreferrer nofollow">no-action relief allowing designated contract markets to convert perpetual-style digital commodity futures into true perpetual futures</a>.
The regulatory direction has therefore shifted from uncertainty over whether perpetuals fit within US derivatives rules toward defining how they can be structured and offered under regulated conditions.
<h2 id="crypto-com-joins-a-growing-us-perpetuals-market">Crypto.com Joins a Growing US Perpetuals Market</h2>
Crypto.com is not the first major platform to move into this segment.
Coinbase and Kraken have already introduced forms of perpetual exposure for US traders.
Coinbase has pursued access through its regulated futures business and Deribit infrastructure, while Kraken launched US perpetuals following its acquisition of Bitnomial.
That competition suggests perpetual futures could become a much more important part of the US crypto trading market over the next year.
Until recently, US retail crypto derivatives were relatively limited compared with platforms serving international customers.
Offshore exchanges have long offered perpetuals with high leverage, deep liquidity and dozens or even hundreds of trading pairs.
US platforms have generally operated under tighter restrictions.
The emergence of regulated perpetual products narrows that gap without recreating the extremely high leverage commonly seen offshore.
<h2 id="why-the-5x-leverage-cap-matters">Why the 5x Leverage Cap Matters</h2>
Crypto.com and OG.com's maximum leverage of 5x is notable because it is much lower than the leverage historically offered by many international derivatives exchanges.
Some offshore platforms have offered leverage of 50x, 100x or more on major crypto pairs.
Those levels dramatically increase liquidation risk.
At 100x leverage, even a roughly 1% move against a position can be enough to wipe out the trader's margin, depending on maintenance requirements and fees.
A 5x cap still introduces meaningful leverage but gives positions substantially more room before forced liquidation.
The lower leverage profile also fits more naturally within a regulated market structure focused on margin controls, customer protection and risk management.
<h2 id="perpetual-funding-still-shapes-trading-costs">Perpetual Funding Still Shapes Trading Costs</h2>
Although perpetual contracts do not expire, they generally rely on funding mechanisms to keep prices aligned with the underlying spot market.
When perpetual prices trade above spot, long traders may pay funding to short traders.
When the market trades below spot, that relationship can reverse.
Funding rates therefore become an important cost for traders who keep positions open for extended periods.
A perpetual contract can remain open indefinitely in theory, but maintaining the position may become expensive if funding repeatedly moves against the trader.
This is one of the key differences between using perpetual futures for short-term speculation and using them as a longer-term hedge.
<h2 id="regulated-perpetuals-could-shift-us-crypto-liquidity">Regulated Perpetuals Could Shift US Crypto Liquidity</h2>
The broader significance of the launch may be its effect on where US crypto derivatives volume trades.
Perpetual futures dominate derivatives activity on many global exchanges.
If regulated US platforms can offer comparable instruments, some trading volume that historically moved offshore could migrate toward domestic venues.
That could improve price discovery and liquidity on regulated exchanges.
It could also give institutional traders more options for hedging cryptocurrency exposure without relying on products with fixed expiry dates.
Crypto.com and OG.com are positioning their launch around exactly that combination of continuous exposure and regulated infrastructure.
<h2 id="us-crypto-trading-is-becoming-more-derivatives-focused">US Crypto Trading Is Becoming More Derivatives-Focused</h2>
The Crypto.com launch arrives as derivatives activity continues to become a larger part of professional crypto trading.
A recent <a href="https://www.coinbase.com/nl/institutional/research-insights/research/trading-insights/crypto-market-positioning-october-2026" rel="noopener noreferrer nofollow">Coinbase Institutional market positioning report</a> showed rising turnover across spot, perpetual futures, term futures and options markets.
The report found that options turnover reached its highest level since November 2025, while perpetual and futures activity also increased.
That suggests traders are increasingly using derivatives not only for leverage but for hedging, volatility trading and portfolio positioning.
The arrival of more regulated perpetual products in the US expands that toolkit.
<h2 id="a-major-shift-in-the-us-crypto-trading-landscape">A Major Shift in the US Crypto Trading Landscape</h2>
Crypto perpetual futures are moving from regulatory edge case toward mainstream US derivatives product.
The launch by Crypto.com and OG.com illustrates how quickly that transition is progressing.
Eligible US traders now have access to continuous crypto futures with leverage, stop-loss and take-profit functionality through regulated market infrastructure.
The CFTC's actions earlier this year created a clearer framework for those products, while competition between Crypto.com, Coinbase, Kraken and other platforms is likely to push the market further.
For traders, the appeal is straightforward: perpetual futures provide flexible long and short exposure without contract expiry.
The risk is equally straightforward.
Leverage increases both potential returns and potential losses, while funding and liquidation mechanics can make perpetual trading significantly more complex than buying crypto on the spot market.
As regulated US platforms expand their derivatives offerings, understanding those mechanics will become increasingly important for anyone moving from spot trading into leveraged crypto markets.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Crypto.com Launches Regulated US Crypto Perpetuals With Up to 5x Leverage

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