Crypto.com Launches Quarterly Futures
- Crypto.com’s BTCUSD contracts will be settled in USDT and USDC on the last Friday of every quarter.
- Users will be able to access leverage of up 100x and discounted trading fees based on the amount of CRO staked.
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According to a Crypto.com blog post from 7 June, users will now be able to settle their BTCUSD contracts in USD-pegged stablecoins USDT and USDC and access leverage of up to 100x. Users that stake Crypto.com’s native CRO tokens on the exchange will be eligible for discounted trading fees based on the amount of staked funds.
Like Perpetual Contracts, Futures Contracts offer users exposure to an underlying asset at a preset price. However, Futures Contracts come with a fixed expiration date—Crypto.com’s Quarterly Futures settle on the last Friday of every quarter. The contracts for this year’s second quarter are set to expire on Friday, 25 June.
The margin for the Quarterly Futures contracts is shared across all open positions in the users’ Derivatives Wallets. To trade derivatives, Crypto.com traders need to complete the Advanced level of verifications. Users from the U.S., U.K, Canada, France, Germany, Hong Kong, Japan, Singapore, Switzerland, and Malta are restricted from trading derivatives on Crypto.com.
- Crypto.com has once again expanded its regulatory achievements with the acquisition of a major payment institution license for digital payment token services in Singapore.
- The license, for which the company received an in-principle approval last June, enables the exchange to provide a greater range of payment services in Singapore.
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- Crypto.com CEO Kris Marszalek addressed customer concerns during a live AMA session today, claiming that the exchange had a strong balance sheet.
- He also clarified that Crypto.com had sent $1 billion in stablecoins to FTX over a the past year to fulfill order liquidity, and that it had only $10 million exposure to FTX when it fell.
- Part of the investment will support the establishment of a new Crypto.com European headquarters in the capital city of Paris.
- Funds will also be alocated to hire new talent in the region, and advance the exchange’s brand presence in Europe through customer engagement and education.