Kraken Breaks Barriers: Launches 24/7 FX Perpetual Futures

Kraken’s FX perpetual futures are designed without expiration dates, mirroring the perpetual nature of many crypto derivatives. Traders can open and maintain positions indefinitely, with up to 20x leverage, enabling sophisticated trading strategies typically reserved for institutional participants in traditional markets. The products settle in USD and are margined in USD and USDT, offering flexible collateral options for global traders.

Kraken Co-CEO, Dave Ripley, shared his thoughts on the FX futures launch on X:

Kraken’s latest move builds upon its growing suite of multi-asset offerings. Earlier this month, the company announced the rollout of commission-free U.S. stock and ETF trading in selected states, with a broader U.S. and international expansion planned for later this year. The platform now supports trading in over 11,000 publicly listed securities via its new investment app, an effort that puts Kraken in direct competition with fintech heavyweights like Robinhood and SoFi.

To accelerate its expansion into traditional financial markets, Kraken recently acquired U.S.-based futures trading firm NinjaTrader in a landmark $1.5 billion deal. This acquisition provides Kraken with direct access to regulated futures markets and further enhances its infrastructure for offering diversified derivatives products beyond the crypto sphere.

The launch of FX perpetuals underscores a broader industry trend: the growing demand for round-the-clock access to financial markets. Traditional FX trading, even though considered one of the most liquid markets in the world, operates only five days a week. By offering 24/7 trading of forex pairs, Kraken is tapping into a new market segment, crypto-native traders who are accustomed to non-stop markets and seeking exposure to traditional assets without leaving their preferred ecosystem.

Moreover, Kraken’s FX futures are likely to appeal to global users in regions like Australia, Asia, and the Middle East, where local time zones often misalign with the peak activity hours of Western financial hubs. The move also positions Kraken as a leader in cross-market financial innovation, rivaling Binance and Coinbase in terms of asset diversity and user reach.

The implications extend beyond product expansion. Kraken’s latest offerings are a challenge to both legacy forex brokers and traditional futures exchanges like CME Group. If widely adopted, 24/7 FX futures could become a new norm, especially among retail and algorithmic traders looking for continuous exposure to currency volatility.

Kraken’s expanded product suite also comes at a time when institutional interest in crypto remains strong despite regulatory uncertainty. The firm’s diversified approach, embracing equities, forex, crypto, and derivatives, provides a hedge against volatility in any single asset class and positions Kraken as a long-term contender in the evolving digital finance landscape.