SGX Wins US Approval for Crypto Perpetual Futures
Singapore Exchange (SGX) has become the first major Asian bourse to offer crypto perpetual futures to US institutions after receiving authorization from the US Commodity Futures Trading Commission under Regulation 48.10.
This regulatory pathway allows US institutions to trade on a foreign exchange without requiring the exchange to register domestically, giving American hedge funds and asset managers access to Asian crypto liquidity pools directly through their existing setups.
The SGX products in question are Bitcoin perpetual futures (BTP) and Ether perpetual futures (ETP), contracts that never expire but use periodic funding rates to keep prices tied to the spot market. These instruments are wrapped in traditional finance infrastructure, including margin calls, collateral top-ups, and central clearing.
The exchange does not accept stablecoins as collateral, opting for a more conservative approach that separates these products from DeFi-adjacent practices common on offshore platforms.