Singapore Exchange, or SGX, has received approval from the U.S. Commodity Futures Trading Commission to offer cryptocurrency perpetual futures contracts to institutional investors in the United States, according to a Techub News brief citing Crypto Briefing. The approval gives U.S. institutions access to another regulated route for trading crypto derivatives, a segment that has drawn growing institutional interest. The report also said the move could challenge the Chicago Mercantile Exchange, or CME, which currently holds a leading position in this market. No additional product details, launch timeline, or contract terms were disclosed in the brief.
Singapore Exchange (SGX) has received approval from the U.S. Commodity Futures Trading Commission (CFTC) to offer cryptocurrency perpetual futures contracts to institutional investors in the United States, according to a Techub News brief that cited Crypto Briefing.
The approval opens another regulated channel for U.S. institutions to trade crypto derivatives. The brief added that the move could challenge the Chicago Mercantile Exchange (CME) and its leading position in the segment.
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