The US Securities and Exchange Commission (SEC) has acknowledged a Form 1-N filing by North American Derivatives Exchange, the legal entity behind OG.com, authorizing the platform to offer single-stock futures in the US. Crypto.com co-founder and CEO Kris Marszalek confirmed the regulatory approval via an X post on Thursday, noting that the move clears a significant hurdle for listing these products domestically.
Marszalek stated that the company is collaborating with both the SEC and the Commodity Futures Trading Commission (CFTC) to introduce single-stock perpetuals that merge digital asset market innovations with US capital markets. This development follows similar moves by other crypto platforms, including Kraken’s partnership with the London Stock Exchange for tokenized UK stocks and Coinbase’s launch of stock perpetual futures for non-US traders earlier this year.
This authorization marks a pivotal moment in the convergence of traditional finance and digital asset infrastructure, as it permits a crypto-native entity to operate within the regulated US securities framework. By securing SEC acknowledgment for its national securities exchange registration, OG.com demonstrates that hybrid financial instruments can navigate existing regulatory channels without requiring entirely new legislative structures. The involvement of both the SEC and CFTC suggests a coordinated approach to overseeing products that blend equity exposure with derivatives mechanics, potentially setting a precedent for how future cross-border or hybrid assets are classified and supervised.
From a market structure perspective, the entry of single-stock futures into the US crypto ecosystem intensifies competition among exchanges seeking to capture institutional demand for leveraged equity exposure. While this expands product offerings, it also introduces operational risks related to custody and compliance for assets that sit at the intersection of commodity and securities law. Stakeholders should monitor how the CFTC and SEC delineate authority over 'single-stock perps,' as ambiguous jurisdiction could hinder broader institutional adoption if regulatory clarity remains fragmented across different product types.
