The plot thickens in the world of decentralized finance as OG.com—the independent platform recently spun out of Crypto.com—is making a major play for the US market. The platform, currently valued at $5 billion, has officially filed with the Commodity Futures Trading Commission (CFTC) to start offering perpetual futures on individual US stocks.
What's the move?
If approved, these "perps" would allow traders to maintain exposure to individual stocks without the hassle of expiration dates or rolling over contracts, operating on a 24/5 schedule. While this type of derivative is a staple in the crypto ecosystem—pioneered by BitMEX back in 2016—bringing it to traditional equity markets is a different beast entirely.
OG.com isn't the only one trying to bridge this gap. Just recently, Coinbase, Payward (the parent company of Kraken), and Kalshi all filed for similar approvals to offer perpetual stock futures. The regulatory landscape has been shifting fast, especially after the SEC cleared limited on-chain trading for tokenized stocks and the CFTC ramped up its review process for these types of contracts.
The bigger picture
Following its spin-off, OG.com entered a multi-year deal with Robinhood, which also picked up an equity stake in the firm. CEO Kris Marszalek has been vocal about moving the platform beyond just prediction markets, and this filing is a huge step in that direction.
Why it matters
Real talk: this is highkey a major move for market accessibility. But before you get hyped, remember this isn't financial advice. While perps are popular with degens in crypto, their arrival on US stocks is still navigating complex regulatory waters. Always keep your risk management in check—don't ape into anything without doing your own research, because the volatility is real.
