Crypto.com's Nadex moves into U.S. single-stock futures

The filing, which became effective September 14, positions Nadex to expand its derivatives offerings beyond its established CFTC-regulated products. While the notice registration grants the legal status required to host these instruments, it does not constitute direct SEC approval for individual contracts. Nadex must still submit specific listing standards and terms for each product under the Securities Exchange Act before trading can commence.

Exhibit I of the filing identifies 10 initial assets for cash-settled futures, including major tech entities like Apple, Nvidia, Tesla, and Microsoft, alongside the privately held SpaceX. The exchange plans to utilize a fully electronic matching system with price-and-time priority, limiting direct access to qualified members and registered broker-dealers. Despite an internal document suggesting a September 9 launch date, no confirmation exists that these contracts have begun trading.

Simultaneously, Crypto.com CEO Kris Marszalek is engaging with both the SEC and CFTC to explore perpetual futures tied to individual U.S. stocks. This strategy mirrors efforts by industry peers such as Coinbase and Kalshi, who are also navigating the complex regulatory intersection of digital-asset infrastructure and traditional capital markets. Nadex, now under the parentage of OG Markets US following a strategic spin-off, remains the primary vehicle for these operations, though it has yet to disclose specific leverage or funding-rate rules for its proposed perpetual products.