Kraken Expands Derivatives Offering with FX Perpetual Futures, Debuting EUR/USD and GBP/USD Pairs

Cryptocurrency exchange Kraken has introduced FX perpetual futures to its derivatives lineup, marking a strategic expansion into traditional forex markets. The initial product rollout features two major currency pairs—the Euro/US Dollar (EUR/USD) and British Pound/US Dollar (GBP/USD)—allowing traders to speculate on forex price movements with crypto-native perpetual contracts. This move positions Kraken to compete with both crypto-native platforms and traditional forex brokers by offering 24/7 trading, leverage, and crypto-collateralized positions. The launch comes as institutional demand grows for hybrid crypto-forex products, with Kraken leveraging its established infrastructure to bridge decentralized and traditional finance markets.

FX spot trading within the crypto space 

According to Kraken Head of Derivatives Alexia Theodorou, the launch builds on Kraken’s standing as a top FX spot venue within the crypto ecosystem. 

“By introducing FX perps, we’re capitalizing on this market-leading position by providing clients with a powerful new tool,” she said, noting the product expands Kraken’s reach across asset classes.

In 2024, Kraken clients traded $5.4 billion in FX spot markets, with EUR/USD and GBP/USD making up $3.5 billion of that volume. 

FX perps allow for tighter strategy execution and continuous market access, while also incorporating safeguards like zero funding during stale pricing and price collars to prevent trades outside a 4% range.

Kraken plans to expand its FX perp offerings and geographic availability in the coming months, continuing its effort to bridge crypto and traditional financial markets.