Crypto futures explained: How exchanges are expanding offerings in India

India’s cryptocurrency exchanges are expanding deeper into derivatives and cross-asset trading products, as platforms look beyond spot crypto transactions to attract retail traders seeking exposure to global markets and macroeconomic themes.

Indian cryptocurrency exchange platform Giottus announced the expansion of its futures platform to include perpetual contracts linked to US equities, metals and energy products, while WazirX launched crypto futures trading with rupee-based access and revised fee structures targeted at retail users.

The developments highlight how exchanges are positioning themselves as broader trading platforms rather than crypto-only venues, amid rising interest in derivatives products globally.

Giottus said its new offering includes perpetual contracts tied to US-listed companies such as Tesla, Nvidia, Meta and Amazon, along with commodities including gold, silver, Brent crude and natural gas. The exchange said users would be able to trade these products through a single USDT-margined wallet.

WazirX, meanwhile, introduced crypto futures trading with maker and taker fees of 0.02% and 0.04% respectively, and said users would be able to trade futures directly in rupees without converting funds into stablecoins such as USDT.

Crypto futures are derivative contracts that allow traders to speculate on the future price movement of an asset without owning the underlying asset directly. Perpetual futures, a commonly used format in crypto markets, do not have an expiry date and can be traded continuously as long as margin requirements are maintained.

Unlike spot trading, where investors buy and hold cryptocurrencies, futures trading allows users to take leveraged positions, hedge existing holdings or bet on both rising and falling prices. Exchanges typically generate higher trading activity and fee income from derivatives products compared with spot markets.

The expansion into equity- and commodity-linked perpetual contracts also reflects increasing overlap between crypto trading and broader macroeconomic trends. Movements in US technology stocks, oil prices, inflation data and central bank policy decisions are increasingly influencing trading activity across digital asset markets.

Both companies said their new products are aimed at providing Indian users easier access to global market-linked exposure through a single platform, without requiring overseas brokerage accounts or foreign remittance processes.