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Crypto.com has introduced two major initiatives in its continued expansion of services in the U.S. market: a pioneering sports event trading platform and the establishment of its U.S.-based custody trust company.
In a first for the industry, the sports event trading platform, essentially a prediction market, allows U.S. users to trade predictions on sports outcomes. Initially, the platform focuses on the upcoming Super Bowl, enabling users to forecast game results and interact with a unique trading interface.
🏈 Predicting the outcome of The Big Game just got a lot more interesting
— Crypto.com (@cryptocom) December 23, 2024
Turn correct predictions into profit with Sports Event Trading, now available across the US 🇺🇸
🏆 US$100 payment for each correct event contract you own
✔️ Simple Yes/No decision
🔒 CFTC-regulated… pic.twitter.com/gUaHyycOnf
This product draws similarities to existing event contracts offered by Crypto.com’s CFTC-regulated derivatives exchange. The launch positions Crypto.com at the forefront of integrating cryptocurrency with sports, aiming to leverage the Super Bowl's immense popularity to gain traction among new and existing users.
U.S. Trust Company for Enhanced Custody Services
In a separate announcement, the cryptocurrency exchange launched the Crypto.com Custody Trust Company. The newly chartered U.S. trust company will provide custody solutions for digital assets to eligible institutions and high-net-worth clients in the U.S. and Canada. This initiative includes the migration of all U.S. and Canadian customer digital assets to the trust company over the coming weeks.
CEO Kris Marszalek emphasized the strategic importance of this move, stating it reflects the company’s confidence in North America as a critical market. “Launching a U.S. trust company is our latest significant step in our product roadmap to building our business and presence in two of the most important and active crypto markets in the world – the U.S. and Canada,” he said.
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