Crypto Exchange Kraken launched FX Perpetual Futures and expanded into traditional markets with 24-hour citations with major forex pairs, the company said in a blog post Friday.
The first contracts, EUR/USD and GBP/USD, are currently live on Kraken Pro and can be followed further.
Unlike standard forex products, FX Perps has no expiration date and operates 24/7, 70% off, mirroring crypto futures.
With FX Perps, Kraken is doubled serving institutions and professional traders in search of deeper exposure to the Fiat market through its crypto-native platform, the company said.
Cryptocurrency and traditional financial markets are becoming increasingly converged.
Kraken recently launched a fee-free trading for US-registered stock and exchange sales funds (ETFs), opened access to traditional financial markets from within the same platform used for cryptocurrency, and placed himself in order to compete more directly with trading platforms such as Robinhood (Hood).
“Investors are increasingly looking forward to a unified trading experience ranging from crypto, forex and stocks. With the recent launch of US stocks and the permanent addition of Forex, Kraken offers a comprehensive platform designed for today’s multi-asset traders.
Kraken’s clients traded $5.4 billion annually on FX Spot volume and $3.5 billion in EUR/USD and GBP/USD.
According to MasterCard, Exchange can partner with MasterCard to spend digital assets on Crypto owners in the UK and Europe on more than 150 million merchants worldwide.
read more: Kraken teams up with MasterCard to introduce Crypto debit cards
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