Kraken Expands Beyond Crypto with Forex Perpetual Futures
Kraken, a popular crypto exchange, has ventured into traditional finance by introducing forex perpetual futures (FX perps). This move allows traders to speculate on currency price changes without expiration dates. Initially, it supports EUR/USD and GBP/USD pairs.
FX perps are derivative contracts that let traders bet on currency price movements. They offer up to 20x leverage on two major currency pairs. These contracts are benchmarked against DxFeed’s Composite Forex Index, ensuring real-time trading.
Traders can access these contracts 24/7 via Kraken Pro. Though, index prices update only during regular forex hours.This expansion aims to bridge crypto and traditional markets, providing a new tool for clients.
According to Alexia Theodorou, Kraken’s Head of Derivatives, this launch builds on their strong position in the crypto ecosystem.
In 2024, Kraken clients traded $5.4 billion in FX spot markets. The new FX perps offer tighter strategy execution and continuous market access. They also include safeguards like zero funding during stale pricing and price collars.
Kraken plans to expand its FX perp offerings and geographic availability.This step continues their effort to bridge crypto and traditional financial markets.
Key features of FX perps include:
- 24/7 trading via Kraken Pro
- Up to 20x leverage
- real-time trading without expiries
- Safeguards like zero funding and price collars
For more details, visit Kraken’s official website.
