TL;DR
- Kraken has launched FX perpetual futures to trade 24/7 with popular currency pairs like EUR/USD and GBP/USD on its Pro platform, without an expiration date.
- FX perpetual futures allow traders to keep positions open indefinitely, a feature already known in crypto futures.
- Kraken expands its offering to compete with platforms like Robinhood by eliminating commissions on stock and ETF transactions in the U.S.
Kraken has announced the launch of FX perpetual futures, a new offering that allows users to trade the most popular currency pairs, EUR/USD and GBP/USD, 24 hours a day, 7 days a week, on its Pro platform.
This innovation is crucial for Kraken’s expansion into traditional financial markets, offering traders the ability to trade currencies without the expiration restrictions typical of standard forex products.
FX perpetual futures have no expiration date, meaning investors can keep their positions open for as long as they want without needing to renew them, a concept already familiar to crypto futures users.
Responding to Investor Demands
This new functionality allows traders to continuously take advantage of opportunities in the currency markets without the typical limitations of traditional contracts. Kraken aims to attract mainly professional and institutional traders who want to access traditional currency markets through a crypto-native platform.
The move also responds to a growing trend in the market, where investors demand unified platforms that integrate crypto, forex, and equity trading. Kraken has taken note of this need and expanded its product offering to include U.S.-listed stocks and ETFs, eliminating transaction fees for these products. In this way, the platform is prepared to compete directly with other trading platforms like Robinhood, which also allow access to multiple types of assets.
Kraken Prepares a Partnership with Mastercard
As for the numbers, Kraken highlights that in 2024, the platform’s clients traded $5.4 billion in forex spot volume, with $3.5 billion of it in EUR/USD and GBP/USD pairs. These figures prove the strong demand for trading these currencies and the relevance of the exchange in this market.
Additionally, Kraken is working on a partnership with Mastercard, which will allow crypto users in the UK and Europe to use their assets at more than 150 million merchants worldwide. The exchange aims to bring cryptocurrencies into people’s everyday lives.
