Kraken Launches FX Perpetual Futures, Expands Into Forex Market

Crypto exchange Kraken has expanded its offerings by launching FX perpetual futures, allowing for round-the-clock trading in major forex pairs. This move marks Kraken's entry into traditional financial markets, providing a seamless trading experience for its users. The first contracts available are EUR/USD and GBP/USD, with plans to introduce more pairs in the future. Unlike standard forex products, these FX perpetual futures have no expiry date and operate continuously, similar to crypto futures.

Kraken's new FX perpetual futures are designed to cater to institutional and professional traders seeking deeper exposure to fiat markets through a crypto-native platform. This initiative aligns with the growing convergence of crypto and traditional financial markets. Recently, Kraken introduced commission-free trading for U.S.-listed stocks and exchange-traded funds (ETFs), further integrating traditional financial markets into its platform. This positions Kraken to compete more directly with other trading platforms that offer similar services.

Alexia Theodorou, head of derivatives at Kraken, highlighted the importance of a unified trading experience that spans crypto, FX, and equities. "With our recent U.S. equities launch and the addition of FX perpetuals, Kraken is delivering a comprehensive platform designed for today’s multi-asset trader," she stated. This expansion reflects Kraken's commitment to providing a versatile and integrated trading environment for its clients.

Kraken's clients have shown significant interest in FX trading, with $5.4 billion in FX spot volume traded in 2024, of which $3.5 billion was in EUR/USD and GBP/USD. This indicates a strong demand for forex trading within the crypto community, further justifying Kraken's decision to offer FX perpetual futures. Additionally, Kraken has partnered with Mastercard to enable crypto holders in the U.K. and Europe to spend their digital assets at over 150 million merchants worldwide, enhancing the utility of cryptocurrencies in everyday transactions.