Crypto.com secures FCM, DCM, and DCO approvals from the CFTC, becoming the first major crypto platform to hold a full suite of U.S. derivatives licences.
Crypto.com announced that it is the first major cryptocurrency platform globally to obtain a complete stack of U.S. Commodity Futures Trading Commission (CFTC) derivatives licences, which include approvals for the Futures Commission Merchant (FCM), Designated Contract Market (DCM), and Derivatives Clearing Organisation (DCO) licences.
The licences were secured through Crypto.com | Derivatives North America (CDNA), the platform’s registered exchange and clearinghouse affiliate. With the latest amendment to its DCM licence, CDNA is now approved to offer margined derivatives trading on cryptocurrencies and other asset classes, in addition to fully collateralised derivatives already available through its prediction markets. The firm received approval for its DCO amendment and FCM registration earlier in September.
“This full stack of CFTC-approved derivatives licences enables Crypto.com to seamlessly provide clients with the most comprehensive derivatives trading experience, alongside Crypto.com’s additional product offerings, including spot markets, prediction markets, stocks, qualified custody, credit and debit cards, and more,” said Kris Marszalek, Co-Founder and CEO of Crypto.com.
Steve Humenik, Head of Clearing at CDNA, added: “With our amended order, we will be able to deliver margined derivatives, including crypto perpetuals, to our customers. Today’s approvals demonstrate the progress made by the CFTC in moving forward with applications that had previously been delayed, allowing us to bring regulated derivatives to U.S. retail customers.”
Nick Lundgren, Chief Legal Officer of Crypto.com, noted that the milestone reflects the company’s broader mission: “We acquired a CFTC-registered exchange and clearinghouse in order to advance our mission to be the most regulated financial services platform in the world. Today marks a historic day for our company.”
Travis McGhee, Managing Director and Global Head of Capital Markets at Crypto.com, said: “CDNA has been building a robust exchange and clearinghouse for multiple products, and we are excited to head towards the launch of our margined derivatives using state-of-the-art technology and best-in-class risk management.”
The approvals mark a pivotal step for Crypto.com as it strengthens its position in the U.S. market and underscores the increasing integration of cryptocurrency platforms into regulated financial infrastructures.
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