Crypto.com and OG.com Launch CFTC-Regulated 24/7 Perpetuals for US Traders

Crypto.com and OG.com have launched CFTC-regulated crypto perpetual contracts for eligible US traders, offering up to 5x leverage and 24/7 trading through the Crypto.com App and Exchange. The launch was announced October 28, 2026, and it marks an important step in the slow opening of the United States market to a product that has long been central to crypto trading elsewhere. Perpetual contracts, often called perpetuals, are a form of derivative that lets traders gain exposure to the price of a cryptocurrency without owning the underlying asset and without an expiry date. They have become one of the most widely used instruments in global crypto markets, yet for years eligible traders in the United States have had very limited access to them through regulated domestic venues. This launch changes that position for the traders it covers, by bringing a regulated version of the product inside the US regulatory perimeter.

Why Regulated Crypto Perpetuals Were Long Unavailable to US Traders

Perpetual futures have long been unavailable to US traders on regulated venues for reasons rooted in how American derivatives regulation works. In the United States, futures and similar derivatives fall under the oversight of the Commodity Futures Trading Commission, known as the CFTC, and venues offering them to US customers generally need to operate within that framework. Offshore exchanges, by contrast, have been able to offer perpetuals with high leverage and few restrictions to customers in many other jurisdictions, building enormous volumes around a product that US traders could watch but not legally use through those platforms. The result was a split market. Outside the United States, perpetuals became the default way to trade crypto with leverage, to hedge exposure, and to express short-term views. Inside the United States, traders who wanted similar exposure had to use other instruments, such as spot trading, regulated futures with expiry dates, or exchange-traded products, none of which replicates the precise features of a perpetual contract. The launch is therefore significant as evidence that those barriers are beginning to be addressed by firms willing to work inside the rules.

How CFTC-Regulated Perpetuals Differ From Offshore Perpetuals

The central difference between a CFTC-regulated perpetual and an offshore perpetual is the framework in which it operates. A regulated contract is offered through a venue and structure that falls under CFTC oversight, with rules governing how the market operates, how customer funds are handled, and how trading is monitored. An offshore perpetual, by contrast, is typically offered by an exchange operating outside US regulation, under the laws of its home jurisdiction, with standards that vary widely from one platform to another. That difference affects several practical aspects of trading. On a regulated venue, there are clearer expectations about market integrity, including surveillance for manipulation and rules designed to ensure orderly trading. There are also clearer expectations about disclosures and customer protections, so traders know more about who they are trading with and under what terms. On an offshore venue, those protections depend entirely on the platform’s own policies and the regulator in its jurisdiction, which may be far lighter. Leverage is another visible difference. Offshore venues have often offered very high leverage, sometimes far above what a regulated market would permit, allowing traders to control large positions with small amounts of capital. That can amplify gains, but it also amplifies losses and increases the risk of liquidation. The Crypto.com and OG.com launch offers up to 5x leverage, a level that is modest by offshore standards but meaningful in a regulated context, where the aim is to give traders useful exposure without encouraging the extreme risk-taking that has led to large losses elsewhere. The distinction is not simply about a number. It reflects a different philosophy, in which access is balanced against protection, and the product is designed to operate sustainably within a regulated market.

What 5x Leverage Means for Eligible US Traders

Leverage of up to 5x means a trader can control a position up to five times the size of the capital committed to that position, subject to the platform’s margin requirements and risk controls. In practical terms, a trader who commits a given amount of margin could gain exposure to a position five times larger, so price moves in the underlying cryptocurrency are magnified in the trader’s profit or loss. That magnification works in both directions, which is why leverage is often described as a double-edged tool. A small favourable move can produce a larger return than the same move in a spot position, but a small adverse move can produce a larger loss, and can lead to liquidation if the position moves far enough against the trader. For that reason, the level of leverage matters a great deal. At 5x, the risk is material but far more contained than at the much higher levels offered offshore, where a move of only a few percent can wipe out a position. The 5x cap therefore shapes how the product is likely to be used. It may suit traders who want to hedge an existing holding, to gain efficient exposure without committing the full value of a position in cash, or to express a directional view with a defined amount of risk. It is less suited to the kind of highly leveraged speculation that has characterised parts of the offshore perpetual market, where traders have sought outsized returns by taking on outsized risk. Eligibility also matters. The launch is for eligible US traders, which means access is not open to everyone without conditions. Eligibility criteria, which are set by the firms and the regulatory framework, determine who can use the product, and traders will need to meet those conditions before trading.

What 24/7 Trading Means for US Market Structure

The launch offers 24/7 trading, meaning eligible traders can trade the perpetual contracts at any time, day or night, including weekends. That feature reflects the nature of crypto markets, which do not close in the way traditional equity or futures markets do. Bitcoin and other cryptocurrencies trade continuously around the world, and prices can move sharply outside US market hours, in response to news, market developments in other regions, or shifts in sentiment. A product that only traded during limited hours would leave US traders unable to respond to those moves until the market reopened, potentially exposing them to gaps in price and limiting their ability to manage risk. Round-the-clock trading addresses that problem by allowing traders to enter, exit, or adjust positions whenever they need to. It also changes how US market structure fits into the global crypto market. When US traders can trade continuously through a regulated venue, the US market becomes more integrated with the global market, rather than operating on a different schedule. That integration can improve liquidity, because trading can take place whenever there is demand, and it can reduce the sense that US traders are at a disadvantage compared with traders elsewhere who already have continuous access. Continuous trading also means continuous exposure to volatility, so careful position sizing matters. The availability of 24/7 trading through the Crypto.com App and Exchange makes the product accessible in the places US traders already use, which lowers the barrier to adoption and makes it easier for eligible traders to incorporate perpetuals into their existing activity.

The Broader Trend of US Crypto Market Infrastructure Maturing in 2026

This launch should be understood as part of a broader trend in 2026 toward the maturing of US crypto market infrastructure. For much of crypto’s history, the United States has been seen as a market with enormous demand but uncertain rules, where firms were hesitant to launch products for fear of enforcement action or unclear registration requirements. That uncertainty kept many products offshore and left US traders with fewer regulated options than their counterparts elsewhere. In 2026, that picture has begun to change, as regulators and firms have moved toward clearer frameworks and more products have been brought inside the regulated perimeter. The CFTC’s push for voluntary federal registration of crypto exchanges is part of that shift. By encouraging exchanges to register voluntarily at the federal level, the CFTC is seeking to bring more crypto trading activity under a clear regulatory framework, with the oversight, standards, and protections that registration entails. Voluntary registration is not the same as a mandate, but it signals a direction of travel: toward a market where exchanges that want to serve US customers do so transparently, under known rules, rather than operating in a grey area. The launch of CFTC-regulated perpetuals by Crypto.com and OG.com fits that direction. It shows a major firm choosing to build a regulated product for the US market, rather than relying on offshore structures, and it suggests that other firms may follow if the product finds demand. The trend also matters for market confidence. When infrastructure matures, institutional participants who require regulated venues, clear custody, and established compliance standards are more likely to participate. That participation can deepen liquidity and broaden the market, creating a virtuous cycle in which better infrastructure attracts more participants, and more participants justify further investment in infrastructure.

Frequently Asked Questions

What did Crypto.com and OG.com launch for US traders?

They launched CFTC-regulated crypto perpetual contracts for eligible US traders, offering up to 5x leverage and 24/7 trading through the Crypto.com App and Exchange, announced October 28, 2026.

How do CFTC-regulated perpetuals differ from offshore perpetuals?

CFTC-regulated perpetuals operate under US oversight with rules on market integrity, customer protections, and leverage, while offshore perpetuals operate under the laws of their home jurisdiction with standards that vary widely.

What does up to 5x leverage mean?

It means a trader can control a position up to five times the capital committed, magnifying both gains and losses, at a level far more contained than the very high leverage often offered offshore.

Why does this launch matter for US crypto markets in 2026?

It is part of a broader maturing of US crypto infrastructure in 2026, including the CFTC’s push for voluntary federal registration of crypto exchanges, bringing more products inside the regulated perimeter.

Source: MaxBit

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