Key Takeaways
- • Kraken launched FX perpetual futures on Kraken Pro, with EUR/USD and GBP/USD contracts live first and more pairs to follow, according to a company blog post published Friday.
- • The contracts have no expiry and trade 24/7, mirroring crypto futures rather than standard forex products.
- • Kraken clients traded $5.4B in FX spot volume year-to-date, with $3.5B of that in EUR/USD and GBP/USD.
- • The launch extends Kraken's multi-asset push, following commission-free trading for U.S.-listed stocks and ETFs and positioning it against Robinhood.
- • The company is targeting institutional and professional traders seeking fiat market exposure through a crypto-native platform.
Summary
Crypto exchange Kraken has launched FX perpetual futures, extending its platform into traditional currency markets with round-the-clock trading in major forex pairs, the company said in a blog post on Friday. The first contracts, EUR/USD and GBP/USD, are now live on Kraken Pro, and additional pairs are planned. Unlike standard forex products, FX perpetuals carry no expiry date and operate 24/7, mirroring the structure of crypto futures.
According to Kraken, the product is aimed at institutional and professional traders seeking deeper exposure to fiat markets through a crypto-native platform. Alexia Theodorou, head of derivatives at Kraken, said in emailed comments that investors increasingly expect a unified trading experience spanning crypto, FX, and equities, and that the combination of the recent U.S. equities launch and FX perpetuals is designed for the multi-asset trader.
The launch follows Kraken's recent introduction of commission-free trading for U.S.-listed stocks and exchange-traded funds, which positions the exchange to compete more directly with trading platforms such as Robinhood (HOOD). Kraken clients traded $5.4 billion in FX spot volume year-to-date, of which $3.5 billion was in EUR/USD and GBP/USD, according to the article.
CoinDesk also noted that Kraken is partnering with Mastercard to let crypto holders in the U.K. and Europe spend digital assets at more than 150 million merchants worldwide, a initiative Mastercard announced earlier in the month.
According to Kraken, the product is aimed at institutional and professional traders seeking deeper exposure to fiat markets through a crypto-native platform. Alexia Theodorou, head of derivatives at Kraken, said in emailed comments that investors increasingly expect a unified trading experience spanning crypto, FX, and equities, and that the combination of the recent U.S. equities launch and FX perpetuals is designed for the multi-asset trader.
The launch follows Kraken's recent introduction of commission-free trading for U.S.-listed stocks and exchange-traded funds, which positions the exchange to compete more directly with trading platforms such as Robinhood (HOOD). Kraken clients traded $5.4 billion in FX spot volume year-to-date, of which $3.5 billion was in EUR/USD and GBP/USD, according to the article.
CoinDesk also noted that Kraken is partnering with Mastercard to let crypto holders in the U.K. and Europe spend digital assets at more than 150 million merchants worldwide, a initiative Mastercard announced earlier in the month.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.