Bybit Launches FX Perpetual Contracts, Starting With EUR, GBP, and USD Pairs

Bybit is bringing EUR/USD, GBP/USD, and USD/JPY exposure to its derivatives platform through USDT-settled perpetual contracts. Bybit announced today that it’s launching Forex Perpetual Contracts for EUR/USD, GBP/USD, and USD/JPY, extending its derivatives business into the trillion-a-day global forex market. All the contracts will be settled in USDT. They have no expiry date and track the underlying spot currency pairs, while allowing traders to use crypto assets as collateral. The move builds on a broader shift in which major cryptocurrency exchanges and trading venues, in general, are increasingly offering access to traditional financial assets through derivatives and tokenization. FX Perpetuals Expand Bybit’s TradFi Suite The first listings are EURUSDUSDT, GBPUSDUSDT, and USDJPYUSDT, with leverage of up to 100x, according to a statement by Bybit shared with CryptoPotato. Unlike conventional Forex markets, Bybit’s contracts can be traded around the clock. This would allow traders to react to decisions, geopolitical developments, and other macro events, even when the underlying FX market is currently closed. The exchange also said that these products are designed to potentially he...