SGX wins CFTC approval for crypto perpetuals for US institutions
- —CFTC approved US access to SGX perpetuals under Rule 48.10
- —Combined BTP and ETP trading volume reached $5.8 billion, about 400,000 lots
- —Peak daily volume was 11,500 lots, roughly $145 million per session
- —SGX does not accept stablecoins as collateral
Why it matters: For the first time, US institutions will have regulated access to crypto perpetuals, intensifying competition with CME.
Source: Crypto Briefing