Crypto.com's Nadex registers with the SEC for single-stock futures; perps still pending

Crypto.com's U.S. derivatives arm has cleared a regulatory step toward trading equity-linked futures, though the more novel product it is touting — single-stock perpetual futures — remains unapproved.

According to The Block, the North American Derivatives Exchange (Nadex), which Crypto.com operates under the OG.com brand, has registered with the Securities and Exchange Commission to trade security futures products. The SEC acknowledged the filing on Sept. 16, two days after Nadex submitted it, with the registration taking effect immediately; The Block also reports the registration became effective Sept. 14. Nadex is already registered with the Commodity Futures Trading Commission as a designated contract market and derivatives clearing organization.

CEO Kris Marszalek said the registration authorizes the company to bring single-stock futures to the U.S. market. In a separate track, he wrote on X on Thursday that the firm is "working with the SEC and the CFTC to offer single-stock perps in the U.S., which will combine the innovations of the digital asset markets with the U.S. capital markets." Perpetual futures are contracts with no fixed expiration date; single-stock perps are not yet cleared by either regulator.

Crypto.com is not alone. The Block reports Coinbase filed its own notice registration earlier this month as it seeks to list equity perpetual futures, with Chief Policy Officer Faryar Shirzad saying Coinbase would also need CFTC sign-off. Earlier this month, Robinhood struck a deal to route a selection of event contracts — starting with football markets — through OG.com, and agreed to take equity stakes in Crypto.com and OG.com following OG.com's planned spin-off as a standalone trading platform.

Key facts

• Nadex (operated under OG.com) registered with the SEC to trade security futures products; registration acknowledged Sept. 16, said to be effective Sept. 14 (The Block).
• Nadex is registered with the CFTC as a designated contract market and derivatives clearing organization (The Block).
• Marszalek says the firm is separately working with the SEC and CFTC on single-stock perps — not yet approved (Marszalek, via X / The Block).
• Coinbase filed a notice registration earlier this month for equity perpetual futures and says it also needs CFTC approval (Shirzad, via The Block).
• Robinhood will route event contracts through OG.com and take equity stakes in Crypto.com and OG.com after a planned spin-off (The Block).

The real-world read

Read the two claims separately. The security-futures registration is a completed, verifiable regulatory filing. The single-stock perps — the headline-grabbing part, and the one Marszalek frames as combining "the innovations of the digital asset markets with the U.S. capital markets" — are still an application, not a product; that quote is a company executive's framing, not a regulatory green light. Note also the mild date wrinkle: an effective date of Sept. 14 alongside a Sept. 16 acknowledgment "taking effect immediately." And the Robinhood tie-up matters as context — a firm taking equity stakes in OG.com is an interested party, not a neutral distributor. This rests on a single secondary report; no primary SEC or CFTC document is quoted here.

Opinion, and whose

Marszalek's stated goal of merging crypto-native perpetuals with U.S. equities is his firm's ambition, contingent on approvals that have not been granted. Coinbase's Shirzad frames CFTC sign-off as a necessary further step for equity perps — an implicit acknowledgment that the regulatory path is not yet complete for either exchange.

Sources

• The Block (Tier 2, reputable secondary), Sept. 17, 2026 — reported the Nadex SEC registration, filing dates, Marszalek's X statement, and the Coinbase and Robinhood context. It cited Marszalek and Shirzad directly; no primary regulatory filing was quoted. No marketing or sponsored material was used.

This is news reporting, not financial advice.