Kraken launches forex perpetual futures with up to 20x leverage

Cryptocurrency exchange Kraken has launched two new foreign exchange perpetual futures contracts — GBP/USD and EUR/USD — on its Kraken Derivatives platform, the company said in a release on Friday.

The contracts offer up to 20x leverage and are available on Kraken Pro, the exchange’s advanced trading platform introduced in 2022. Kraken said it plans to roll out additional forex pairs in the future.

However, traders in the European Union, the United Kingdom and other regions outside Kraken Derivatives’ eligible locations are barred from trading the new FX perpetuals, according to the company’s website.

"Kraken has long been one of the leading FX spot venues in crypto," said Kraken Head of Derivatives Alexia Theodorou in a statement. "By introducing FX perps, we’re capitalizing on this market-leading position by providing clients with a powerful new tool to better navigate and tailor exposure to some of the most widely traded currency markets in crypto today."

The launch follows Kraken’s recent $1.5 billion acquisition of U.S.-based retail futures trading firm NinjaTrader, as part of its broader push to expand into new asset classes, The Block previously reported.