Blockchain.com has submitted applications for Designated Contract Market (DCM) and Futures Commission Merchant (FCM) licenses with the Commodity Futures Trading Commission, aiming to offer crypto derivatives and prediction markets to U.S. customers.
A DCM license permits an entity to operate a regulated futures and options exchange. An FCM license allows a firm to solicit orders for such contracts and hold customer funds.
The regulatory move precedes Blockchain.com's planned $500 million initial public offering. Obtaining CFTC approval is a prerequisite for any U.S. entity seeking to operate regulated derivatives markets, a step that typically involves extensive Commission review.
If approved, the licenses would position Blockchain.com to capture a larger share of the U.S. derivatives market, contingent on the regulator's assessment of the company's compliance infrastructure and risk controls.
