Bybit launches 24/7 perpetuals for major currency pairs
Reported by Cointelegraph · AI-assisted summary by ChikoCorp AI News Desk
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Summary
Bybit, a Dubai-based crypto exchange, launched USDT-settled perpetual contracts for the major currency pairs EUR/USD, GBP/USD, and USD/JPY. These contracts offer 24/7 trading with leverage of up to 100x and do not grant ownership of the underlying currencies. Profits and losses are settled in USDT, and the contracts have no expiration date.
Why it matters
The introduction of perpetual forex contracts on Bybit expands access to FX trading within the crypto exchange environment, allowing continuous trading even when traditional FX markets are closed. This development integrates traditional finance assets more deeply into crypto derivatives offerings, though the source does not elaborate on further market or regulatory impacts.
Key context
Bybit’s launch is part of its TradFi Perpetuals suite, which began in April and now includes over 200 assets across equities, commodities, ETFs, and pre-IPO companies. The forex market is the largest and most liquid financial market, with an average daily OTC turnover of $9.6 trillion in April 2025. Other crypto exchanges like Kraken and BitMEX have previously introduced forex perpetual futures with varying leverage levels.
Key numbers and entities
Bybit; currency pairs EUR/USD, GBP/USD, USD/JPY; leverage up to 100x; $9.6 trillion daily OTC forex turnover (April 2025, BIS data); competitor exchanges Kraken (50x leverage, April 2025 launch), BitMEX (100x leverage, April 2026 launch).
What remains unclear
The source does not specify user adoption levels, regulatory treatment, or detailed risk considerations associated with these perpetual forex products. It also does not provide information on fee structures or how Bybit plans to compete with existing providers in this space.