Crypto.com registers with SEC for single-stock futures trading

Crypto.com's derivatives exchange, North American Derivatives Exchange (Nadex), operating under the OG.com brand, has registered with the SEC to offer single-stock futures in the United States. CEO Kris Marszalek announced the milestone on September 17, 2026, following the SEC's acknowledgment of their Form 1-N filing. The company is also seeking joint SEC and CFTC approval for single-stock perpetual futures, competing directly with Coinbase, which filed a similar notice on September 1, 2026.

Nadex SEC registration process

• ▪The SEC acknowledged receipt of North American Derivatives Exchange's Form 1-N filing on September 16, 2026, which took effect immediately upon submission on September 14, 2026
• ▪Section 6(g) of the Securities Exchange Act allows a Commodity Futures Trading Commission contract market to register with the SEC solely for trading security futures products by filing a written notice
• ▪North American Derivatives Exchange, the Crypto.com futures exchange operating under the OG.com brand, filed a Form 1-N notice registration with the SEC on September 14, 2026

Single-stock futures authorization

• ▪Crypto.com CEO Kris Marszalek announced on September 17, 2026, that Nadex's Form 1-N registration, acknowledged by the SEC on September 16, 2026, authorizes the company's spin-off platform, OG.com, to offer single-stock futures in the United States
• ▪Single-stock futures are contracts that allow traders to bet on the future price of individual equities without owning the underlying shares
• ▪Crypto.com has not disclosed a specific launch date, list of underlying assets, or maximum leverage ratios for its planned single-stock futures offering

Perpetual futures regulatory approval

• ▪Perpetual futures are contracts that roll indefinitely without a fixed expiration date, combining digital asset market innovations with U.S. capital markets
• ▪Crypto.com is working with both the SEC and the Commodity Futures Trading Commission to offer single-stock perpetual futures in the United States

CFTC derivatives licensing history

• ▪The Commodity Futures Trading Commission amended North American Derivatives Exchange's order in September 2025 to allow the exchange to offer margined futures cleared on an intermediated basis
• ▪North American Derivatives Exchange has been a CFTC-designated contract market since 2004, originally designated as HedgeStreet, and was acquired by Foris DAX Markets in March 2022
• ▪Robinhood began routing football event contracts to OG.com in September 2026 and agreed to take equity stakes in Crypto.com and OG.com after OG.com's spin-off as an independent trading platform completes

Coinbase competing equity products

• ▪Coinbase Derivatives filed its own Form 1-N with the SEC on September 1, 2026, which the SEC acknowledged on September 8, 2026, to list individual stock perpetual futures
• ▪Coinbase launched stock perpetual futures for non-U.S. traders in March 2026, after launching access to regulated crypto futures and cash equities in the U.S. in February 2026

Debatable claims

• ▪US regulators should approve single-stock perpetual futures
• ▪Crypto exchanges should be allowed to offer traditional stock derivatives