Cascade unveiled a 24/7 neo-brokerage that lets traders access perpetual contracts on cryptocurrencies and major U.S. equities, positioning the platform between traditional finance and crypto-native market structures. It promises continuous trading and integrated fiat flows, centered on software-driven operations and collateral transparency.
Cascade’s offering centers on perpetual contracts with no expiration, enabling traders to hold exposure without owning the underlying asset. The product highlights high leverage, with market precedent of up to 100x in some crypto venues and as much as 50x for comparable equity perpetuals. To keep contract prices aligned with spot markets, the platform relies on funding rates, small periodic payments exchanged between long and short positions.
A unified margin account allows customers to move U.S. dollars directly to and from traditional banks while trading within a single collateral pool. The platform emphasizes software-based settlement and transparent collateral management to enable continuous position management outside standard market hours, aiming for seamless fiat integration across instruments.
Business strategy and market context for Cascade
Cascade frames the neo-brokerage as a bridge between TradFi and DeFi, seeking to democratize continuous, leveraged exposure historically concentrated in crypto venues or specialized derivatives markets. The company raised $15 million from Polychain Capital, Variant, Coinbase Ventures and Archetype, signaling institutional interest in the model and the broader evolution of perpetual-style products.
Recent industry activity provides context, as major players expand perpetual-style products and tokenized exposure and alternative platforms report early momentum for equity perpetuals. Cascade plans staged access with selected depositors receiving early entry ahead of a wider rollout, culminating in a public launch in early 2026.
Engineers and risk specialists will confront hazards in low-liquidity environments, where targeted price moves can trigger forced liquidations in so-called “liquidation hunts”. Extending perpetuals to equities adds complexities, since derivatives cannot easily mirror dividends, shareholder voting rights and corporate governance without bespoke adjustments, requiring careful product design.
Regulatory complexity spans equity-related and crypto derivatives under different legal frameworks, shaping what can be offered and how. Success will depend on robust risk controls, compliant product design and sustained liquidity provision, ensuring market integrity across continuous trading hours.
Cascade’s neo-brokerage seeks to deliver always-on access and unified fiat integration for perpetual exposure across crypto and selected equities, with early entry for selected depositors and broader public access targeted for early 2026.
