Earlyworks Co., Ltd. announced the successful completion of its acquisition of Perpetual Markets Ltd., with the combined entity rebranding as Perpetuals.com Ltd. and commencing trading on the Nasdaq under the ticker symbol PDC effective January 20, 2026. This strategic move integrates Perpetual Markets into a business focused on developing software solutions that bridge traditional financial markets and blockchain-based cryptocurrency markets.
The company's core offering is its exchange software suite, Kronos X®, which enables regulated trading venues, including European Multilateral Trading Facilities (MTFs), to operate with 24/7 self-clearing and blockchain-based settlement technology. Perpetuals.com plans to operate its own MTFs in Europe later in 2026 and introduce new tokenized products. The company also aims to leverage proprietary machine-learning technology to develop AI-enhanced alternatives to traditional Contract for Difference (CFD) and perpetual futures markets.
Founded by Patrick Gruhn, Robin Matzke, and Nayia Ziourti, Perpetuals.com is a financial technology company that combines blockchain infrastructure and artificial intelligence to transform digital asset trading. The company develops and operates Kronos X®, a proprietary multi-asset exchange platform and blockchain-based settlement solution designed to be fully compliant with European regulations including MiFID II, MiCA, DORA, and EMIR.
The company provides financial market infrastructure as a service from Equinix FR2 in Frankfurt, Germany, enabling clients to operate 24/7 trading of crypto spot, derivatives, tokenized securities, and structured products. Kronos X® clients include CySEC-licensed Multilateral Trading Facilities with EU MTF equivalence recognized in jurisdictions such as the United States, Australia, and Hong Kong. For more information on the company's operations, visit https://group.perpetuals.com/.
The Perpetuals.com team has a history of pioneering regulated tokenized financial products, including Pre-IPO contracts for companies like Coinbase, Airbnb, and Robinhood—as previously reported by Forbes—as well as tokenized stocks traded on major exchanges including Binance, FTX, and Bittrex. Building on machine learning analysis of millions of retail trade transactions, the company has developed AI-powered risk intelligence that predicts trading outcomes in real-time. This technology aims to optimize derivatives hedging operations while enabling enhanced client protection in prediction markets.
A new prediction market system based on this proprietary AI model is planned for announcement in the second quarter of 2026. The company's rebranding and Nasdaq listing mark a significant step in its mission to provide regulated, technologically advanced infrastructure for the evolving digital asset landscape, potentially influencing how traditional and crypto markets interact and expanding access to tokenized financial products under established regulatory frameworks.
