Crypto.com Seeks CFTC Approval for Equity Perpetuals in the US

Crypto.com has filed with the Commodity Futures Trading Commission (CFTC) to list equity perpetuals in the United States. This move comes after Coinbase and Kalshi also pursued similar products. The price of Cronos (CRO), Crypto.com's native token, rose about 6% on Friday following the announcement.

Crypto.com's CEO Kris Marszalek tweeted that the company has 'officially filed with the CFTC for equity perps in the US.' He also mentioned that the SEC acknowledged a related filing last week. The ten stocks initially listed by Crypto.com, including Apple and Tesla, are ordinary cash-settled futures with an expiry date.

Perpetual versions of these futures require the CFTC's case-by-case approval process under a policy set in May. Coinbase and Kalshi have also filed for single-stock perpetuals with the CFTC. Crypto.com has had several catalysts this month, including news that Robinhood took stakes in the company.

The token climbed from $0.057 to $0.063 on September 8 after Robinhood's investment. CRO is currently up 9% over seven days and 13% monthly, according to CoinGecko. It still sits about 93% below its November 2021 record.