Cryptocurrency exchange Kraken introduced foreign exchange (forex) perpetual futures contracts to its Kraken Pro platform on April 18, giving traders further exposure to global currency markets.
The first two perpetual forex futures available on the platform will be the euro-US dollar (EUR-USD) and the British pound-US dollar (GBP-USD) contracts, according to a company announcement.
Both contracts feature 20x leverage and no expiry date, meaning they do not have to be rolled or settled by a deadline, unlike traditional futures contracts, which have an expiry date.
Kraken’s move is the latest in a series of expansions from the company, as it seeks to blur the line between digital assets and traditional financial products — a trend reflected across the crypto industry.
EUR-USD price action. Source: TradingView
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