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Crypto.com announced the launch of regulated crypto perpetual contracts in partnership with OG.com for eligible U.S. users, the introduction of OG.com Rips—a digital feature for purchasing trading card packs—and reported increased utilization on the Aave DeFi platform following the Binance hack.
Crypto.com’s update details three recent developments: OG.com, in partnership with Crypto.com, has launched regulated crypto perpetual contracts for eligible U.S. traders on both the Crypto.com App and Exchange. These contracts, subject to risk controls and offering up to 5× leverage, are supported by OG.com’s CFTC-regulated exchange and Crypto.com’s status as an NFA Introducing Broker. The report also covered the launch of OG.com Rips, a digital feature that allows users to open ('rip') virtual packs of physical trading cards, including Pokémon and major sports cards, with options for cash buyback or physical delivery. Additionally, the update noted that utilization rates on the Aave DeFi lending protocol spiked following a $6.3 billion Binance hack, leading to market freezes across multiple chains; according to Crypto.com, no major protocol losses occurred and markets resumed activity after stabilization.
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Crypto.com is a cryptocurrency exchange that offers spot and derivative trading in a wide range of digital assets, with the list of supported cryptocurrencies regularly expanding based on user votes. The platform provides both a web-based trading terminal and a mobile app, supports margin and derivatives trading with specified leverage, and features such as cryptocurrency lending, an investment program called Supercharger, and opportunities to earn through the Trading Arena. More information about the broker’s features, including supported payment methods and account options, can be found in the broker profile on Traders Union.
For more context on Crypto.com's recent strategic moves in Hong Kong, see our earlier news about Crypto.com, which detailed the winding down of its consumer app in the region and the firm's continued efforts to secure an institutional exchange license.