Cryptocurrency Exchange Kraken introduced the foreign exchange (forex) of eternal contracts to futures on the Kraken Pro platform on April 18, which provides traders of further exposure to global currency markets.
The first two perpetual forex futures available on the platform are the Euro-US dollar (EUR-USD) and the contracts of the British Pound-US dollar (GBP-USD), according to a company announcement.
Both contracts feature 20x leverage and have no expiration date, which means they do not need to roll or improve a deadline, unlike traditional futures contracts, with expiry date.
Kraken’s move is the latest in a series of expansion from the company, as the line aims to blur between digital assets and traditional financial products – a trend found throughout the crypto industry.
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Kraken sinks its tent tents into tradfi markets
Kraken rolled over forex forex trading to clients around the world other than the United States in March 2020.
The launch provided access to crypto entrepreneurs to nine major currency pairs on the platform, including the Euro, US Dollar, Canadian dollar, Japanese Yen, Pound, and Swiss Franc Pairs.
The crypto exchange in March signed an agreement to buy ninjatraderA retail futures platform, for $ 1.5 billion.
The deal is expected to close in the first half of 2025 and position Kraken to offer crypto futures trading to US residents.
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Mastercard and Kraken cooperated in April to Release a crypto debit card Providing holders of the ability to spend cryptocurrencies on standard retail transactions.
On April 14th, the exchange Introduced stock trading and ETF In select US states, including New Jersey, Connecticut, Wyoming, Oklahoma, Idaho, Iowa, Rhode Island, Kentucky, Alabama and District of Columbia.
Kraken has also been reported Staring at an increasing capital of up to $ 1 billion as the company explored the public, according to a Bloomberg report published in March.
If Kraken’s IPO plans were materialize, the public offer would probably occur in the first quarter of 2026, Bloomberg reported.
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