Crypto.com Gets Green Light to Bring Single-Stock Futures to the US
Crypto.com is shifting nearer to launching single-stock futures in the United States after the SEC acknowledged a Form 1-N submitting from North American Derivatives Exchange (Nadex).
CEO Kris Marszalek revealed the firm is now “licensed” to convey single-stock futures to the market via OG.com, which is its CFTC-regulated standalone prediction market platform launched in February.
US Single-Stock Futures
In a put up on X, Marszalek additionally said the workforce is working with the SEC and CFTC for the providing in the US. Single-stock futures are contracts linked to the future value of particular person shares. They permit merchants to take positions on shares via futures contracts relatively than shopping for the underlying shares straight.
The SEC doc, dated September 16, confirms the submitting was made beneath Section 6(g) of the Securities Exchange Act of 1934.
Crypto.com just isn’t the solely platform trying to convey single-stock perpetual futures to the US. According to The Wall Street Journal, Kalshi can be searching for regulatory approval for the merchandise. The prediction market operator reportedly plans to provide round 60 perpetual contracts tied to main shares and ETFs, together with Tesla, Apple, and Nvidia. The deliberate inventory contracts would goal corporations with market values of not less than $100 billion.
Coinbase additionally filed discover registrations with the SEC to provide single-stock perpetual futures domestically. Earlier this month, the firm mentioned it’s working with each regulatory watchdogs to convey the merchandise to the US market.
The growth displays a push by comparatively newer platforms to broaden into areas lengthy dominated by conventional monetary companies.
Prediction Markets Push
The newest growth comes days after Robinhood announced increasing its partnership with Crypto.com and OG.com as prediction markets proceed to develop on its platform. The corporations mentioned Robinhood will start routing some soccer occasion contracts to OG.com from September 8.
As a part of the deal, Robinhood Markets will take fairness stakes in the two after OG.com turns into an unbiased buying and selling platform. The stakes will likely be priced according to Citadel Securities’ current funding in Crypto.com Group at a $20 billion valuation.
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