Crypto.com Enters US Tokenized Stock Perps Market Amid Kraken's Hyperliquid Push

Crypto.com has joined the race for US tokenized stock perpetual futures (perps) after securing SEC authorization to offer such products. This development comes hours after Kraken announced its plans to bring Hyperliquid HIP-3 markets, including RWA perps, to the United States.

The SEC approval allows Crypto.com to offer tokenized stock perps via its new futures exchange, OG.com. The company's CEO, Kris Marszalek, noted that they have been engaging with both regulators, the SEC and CFTC, to bring single-stock perps to US markets.

Crypto.com received a $400 million strategic investment from Citadel Securities in July to expand into other asset classes and markets, including tokenized securities and derivatives. Marszalek described the opportunity as 'staggering', with crypto increasingly becoming the rails for finance.