Blockchain.com Seeks US Derivatives Registrations to Operate In-House Exchange

Blockchain.com is pursuing US registrations that would allow it to operate its own derivatives exchange and handle customer accounts, orders, and collateral directly, according to a CNBC report. The company has reportedly applied for a designated contract market (DCM) license and a futures commission merchant (FCM) registration.

NFA records show that Blockchain.com Derivatives Inc. has had pending applications for FCM registration and NFA membership since August 25. The application remains under review, meaning the company is not yet authorized to conduct FCM business. The reported DCM application is not yet visible in public CFTC records, and no public filing provides details of the proposed exchange’s products, market-access model, or expected launch date.

Currently, Blockchain.com offers derivatives through third-party providers. Its Polymarket integration places event contracts inside its brokerage app for eligible international users, while perpetual futures available through its self-custody wallet are powered by Hyperliquid. This model allows Blockchain.com to add products without operating the underlying markets, with partners supplying contracts and execution infrastructure.

The DCM and FCM registrations would move more of that structure in-house, enabling Blockchain.com to list its own event contracts and crypto derivatives while onboarding eligible US customers directly. The company has not disclosed whether it plans to build or acquire clearing infrastructure or work with an external provider.

The move mirrors a similar shift by Robinhood, which began by distributing event contracts from an external exchange and later formed a joint venture with Susquehanna that acquired MIAXdx, gaining an existing exchange and clearinghouse now operating as Rothera.