Bybit Brings Crypto-Collateralized FX Perpetual Contracts to Global Traders
Bybit, the world's second-largest cryptocurrency exchange by trading volume, has launched Forex (FX) Perpetual Contracts, a new product category among its derivatives offerings.
The three pairs initially available are EURUSDUSDT, GBPUSDUSDT, and USDJPYUSDT, which are USDT-settled and track their respective spot exchange rates without an expiry date.
This move allows traders to gain continuous exposure to the world's most heavily traded currency pairs using crypto assets as collateral.
The scale of the addressable market is significant, with turnover in OTC FX markets averaging $9.6 trillion per day in April 2025, up 28% from $7.5 trillion in 2022.
FX Perpetual Contracts can serve as an accessible currency hedging mechanism for Bybit traders seeking to safeguard portfolio gains against FX volatility.