Kraken Launches Forex Perpetual Futures on Kraken Pro Platform

Cryptocurrency exchange Kraken has taken a major step toward unifying digital and traditional finance by introducing forex perpetual futures on its Kraken Pro platform. The newly launched EUR/USD and GBP/USD contracts, which went live on April 18, allow traders to speculate on currency pairs with up to 20x leverage—without expiration dates.

This strategic move positions Kraken among the few crypto-native platforms actively bridging the gap between blockchain-based assets and conventional markets. The forex perpetual futures complement Kraken's existing spot trading services for major currency pairs, which launched in 2020 (excluding U.S. customers).

The expansion comes amid Kraken's aggressive push into traditional finance:

• $1.5B NinjaTrader acquisition to bring crypto futures to U.S. users (expected H1 2025)
• Commission-free stock/ETF trading now available in 10 U.S. jurisdictions including New Jersey and Washington D.C.
• Mastercard partnership for crypto debit cards enabling everyday spending

“These perpetual futures give our global users more flexibility in managing cross-asset portfolios,” a Kraken spokesperson noted. The products arrive as demand grows for unified platforms where traders can access both crypto and traditional instruments through a single interface.

Currently ranked as the world's 13th-largest centralized exchange by volume, Kraken appears committed to its vision of using blockchain as the foundation for cross-asset trading infrastructure. This philosophy puts them in direct competition with fintech brokers like Robinhood while differentiating them from crypto-only exchanges.

Looking ahead, Kraken is reportedly preparing for a potential $1 billion funding round ahead of an IPO that could come as early as Q1 2026. The company's multi-pronged expansion—spanning forex, equities, and payment solutions—signals its ambition to become a full-spectrum financial platform rather than just a cryptocurrency exchange.

Industry analysts suggest Kraken's hybrid approach could appeal to traders seeking exposure to both emerging and established markets without maintaining multiple accounts. With regulatory approvals pending, the platform's “phased national expansion” of stock trading services is expected to reach additional U.S. states throughout 2025.

The forex perpetual futures launch underscores how crypto exchanges are increasingly incorporating traditional financial products—a trend likely to accelerate as blockchain technology matures and institutional adoption grows.