Kraken Expands Derivatives Market with Launch of Forex Perpetual Futures Contracts

Cryptocurrency exchange Kraken has announced the introduction of forex perpetual futures to its trading platform, marking a strategic expansion into traditional currency derivatives. The new offering allows traders to speculate on fiat currency pairs with the leverage and continuous settlement features characteristic of crypto perpetual contracts. This move positions Kraken to compete more directly with both crypto-native platforms and traditional forex brokers, providing users with enhanced cross-asset trading opportunities. The forex perpetuals will initially support major currency pairs including EUR/USD and GBP/USD, with Kraken leveraging its existing liquidity infrastructure to ensure competitive pricing and execution.

• Kraken launches forex perpetual futures with 20x leverage on major currency pairs.
• EUR/USD and GBP/USD contracts allow 24/7 trading on the Kraken Pro platform.
• Kraken’s forex push expands its product offerings, blending crypto and TradFi.

Cryptocurrency exchange Kraken introduced forex perpetual futures (FX perps) on its Kraken Pro platform on April 18 to expand its product range. This move offers product expansion to deliver global currency market access for traders as it establishes itself as a marketplace for digital and traditional financial products.

New Forex Perpetual Futures Contracts

The first two forex perpetual futures contracts launched on the crypto exchange are EUR/USD and GBP/USD pairs. These contracts allow traders to leverage up to 20x and trade without expiry dates, making them distinct from traditional futures contracts, which are typically settled by a deadline. This offering enables traders to hold positions indefinitely without rolling or settlement.

The contracts’ values are based on DxFeed’s Composite Forex Index, so prices stay updated when forex markets are open in real time. The Kraken Pro platform now allows advanced clients who use its professional trading features and tools to trade these contracts 24/7.

🚨 Introducing FX Perpetual Futures!

Giving you 24/7 access to $EUR & $GBP perps alongside your favorite crypto markets.

No expiries, no barriers, just unstoppable opportunities 🌍

Trade now 👉 https://t.co/uRl6PG9EeU

*Geo restrictions apply pic.twitter.com/lJFR190c1e

Expanding Beyond Crypto: Kraken’s Strategic Push

The company’s entrance into the forex market follows several other attempts to merge the distinction between cryptocurrency and traditional financial markets. Forex spot trading was rolled out on the platform in March 2020 as a global product offering available to clients worldwide, except for the US.

As part of its broader plan, the exchange made a significant acquisition by purchasing retail futures trading platform NinjaTrader for $1.5 billion. Kraken anticipates finalizing its acquisition in 2025 to enable the company to provide crypto futures trading to U.S. resident investors.

In addition, the exchange partnered with Mastercard to release digital payment cards and initiated stock and ETF trading options in selected U.S. states in mid April 2025. By expanding its product offering, the crypto exchange demonstrates its goal to provide users with a broad range of financial products that extend outside of cryptocurrency markets. Furthermore, the company plans to launch its IPO in early 2026 as it explores opportunities to become a publicly traded entity.

The Future of Kraken’s FX Perp Products

The crypto exchange’s move is a part of its ongoing efforts to offer diverse products to attract new traders from across various asset classes, as well as the launch of the Forex perpetual futures. ‘This expands the number of opportunities for Kraken clients to capture value across a wider range of asset classes, all from one platform.’ Head of Derivatives Alexia Theodorou said.

The FX Spot markets on the crypto exchange saw $5.4 billion in trades in 2024, with EUR/USD and GBP/USD pairs contributing $3.5 billion of the total volume. The company plans to enhance its FX perpetual contracts and geographical market expansion to reach more customer markets in the future.