The race to launch tokenized stock perpetual futures in the United States is accelerating as major crypto exchanges seek regulatory approval. Crypto.com announced it received SEC authorization to offer these products through its new futures exchange OG.com, just hours after Kraken revealed plans to bring similar real-world asset perps to the U.S. The sector has seen explosive growth, with RWA perps volume surging from $20 billion to over $140 billion in 2026, while open interest increased 22x to $5.3 billion. Crypto.com secured a $400 million strategic investment from Citadel Securities in July to support this expansion into derivatives and tokenized securities.
The competition for U.S. tokenized stock perpetual futures is intensifying as Crypto.com enters the market. CEO Kris Marszalek announced via X that the exchange received SEC authorization to offer tokenized stock perps through its new futures platform OG.com.
He stated that Crypto.com has been engaging both the SEC and CFTC to bring single-stock perps to U.S. markets. The announcement came just hours after Kraken revealed plans to bring Hyperliquid HIP-3 markets to the United States.
Crypto.com has been preparing for this expansion for some time. In July, the exchange received a $400 million strategic investment from Citadel Securities to support growth into tokenized securities and derivatives.
Marszalek described the opportunity, “The size of the opportunity in front of us is staggering, as crypto increasingly becomes the rails for finance. Having built the right regulatory and tech infrastructure over the last decade, Crypto.com is now perfectly positioned to capture this new wave of growth across all asset classes.”
Tier-1 exchanges have evolved beyond simple crypto platforms into financial super-apps where users can receive, save, trade, and invest funds. RWA tokenized perps represent a rapidly growing segment within these platforms.
According to data, the segment’s volume surged from $20 billion in January to over $140 billion by July, representing 7x growth within a year. Over that same period, total open interest increased 22x from $220 million to $5.3 billion, indicating substantial capital flowing into this sector.
