Cryptocurrency exchange Kraken has introduced FX
perpetual futures for EUR/USD and GBP/USD, offering its users 24/7 access to
major currency pairs for the first time.
Kraken’s latest addition, live now on Kraken Pro,
brings the forex market to a platform previously centered on cryptocurrencies.
Unlike traditional FX products that expire or follow limited trading windows,
the newly launched FX perps trade continuously without expiry.
“By introducing FX Perps, we’re capitalizing on this
market-leading position by providing clients with a powerful new tool to better
navigate and tailor exposure to some of the most widely-traded currency markets
in crypto today,” said Alexia Theodorou, Head of Derivatives at Kraken.
According to the US-based crypto exchange, the contracts mirror the mechanics of its crypto perpetual and aim to give traders
deeper access to fiat markets.
FX Trading, the Crypto Way
By enabling seamless exposure to EUR/USD and GBP/USD
in real time, Kraken positions itself as a multi-asset venue for active traders
looking to manage both crypto and fiat positions from a single platform.
The FX perps update pricing every second while the
underlying spot market is open. They are benchmarked to DxFeed’s Composite
Forex Index. To protect market integrity during forex closures, Kraken applies
mechanisms like zero funding payouts and order price collars, limiting trades
to a 4% range of the last available index price.
According to the firm, in 2024 alone, clients traded
$5.4 billion in FX spot volume on the platform, with $3.5 billion coming from
just EUR/USD and GBP/USD. The exchange sees FX perps as a way to expand
engagement with those same high-volume traders while lowering barriers to round-the-clock
trading.
The contracts also allow up to 20x leverage, similar
to existing crypto perps on Kraken. The interface remains unchanged within
Kraken Pro, making it easy for existing users to transition between crypto and
FX instruments without additional onboarding.
Multi-Asset Ambitions
The launch comes as Kraken accelerates its push into
traditional markets. Earlier this year, it rolled out commission-free trading
for U.S. stocks and ETFs, bringing equities into the same ecosystem.
The company also partnered with Mastercard to let
crypto users in the UK and Europe spend digital assets at millions of
merchants.
By rolling out FX perpetuals, Kraken taps into that
momentum, offering a new option for traders who want continuous access to major
currencies, without stepping outside the crypto-native environment.
Cryptocurrency exchange Kraken has introduced FX
perpetual futures for EUR/USD and GBP/USD, offering its users 24/7 access to
major currency pairs for the first time.
Kraken’s latest addition, live now on Kraken Pro,
brings the forex market to a platform previously centered on cryptocurrencies.
Unlike traditional FX products that expire or follow limited trading windows,
the newly launched FX perps trade continuously without expiry.
“By introducing FX Perps, we’re capitalizing on this
market-leading position by providing clients with a powerful new tool to better
navigate and tailor exposure to some of the most widely-traded currency markets
in crypto today,” said Alexia Theodorou, Head of Derivatives at Kraken.
According to the US-based crypto exchange, the contracts mirror the mechanics of its crypto perpetual and aim to give traders
deeper access to fiat markets.
FX Trading, the Crypto Way
By enabling seamless exposure to EUR/USD and GBP/USD
in real time, Kraken positions itself as a multi-asset venue for active traders
looking to manage both crypto and fiat positions from a single platform.
The FX perps update pricing every second while the
underlying spot market is open. They are benchmarked to DxFeed’s Composite
Forex Index. To protect market integrity during forex closures, Kraken applies
mechanisms like zero funding payouts and order price collars, limiting trades
to a 4% range of the last available index price.
According to the firm, in 2024 alone, clients traded
$5.4 billion in FX spot volume on the platform, with $3.5 billion coming from
just EUR/USD and GBP/USD. The exchange sees FX perps as a way to expand
engagement with those same high-volume traders while lowering barriers to round-the-clock
trading.
The contracts also allow up to 20x leverage, similar
to existing crypto perps on Kraken. The interface remains unchanged within
Kraken Pro, making it easy for existing users to transition between crypto and
FX instruments without additional onboarding.
Multi-Asset Ambitions
The launch comes as Kraken accelerates its push into
traditional markets. Earlier this year, it rolled out commission-free trading
for U.S. stocks and ETFs, bringing equities into the same ecosystem.
The company also partnered with Mastercard to let
crypto users in the UK and Europe spend digital assets at millions of
merchants.
By rolling out FX perpetuals, Kraken taps into that
momentum, offering a new option for traders who want continuous access to major
currencies, without stepping outside the crypto-native environment.
This post is originally published on FINANCEMAGNATES.
