Bybit Enters Foreign Exchange Market with Major Currency Pairs
Bybit, a prominent cryptocurrency exchange, has expanded its TradFi Perpetuals suite by launching three new perpetual contracts for major foreign currency pairs. The contracts track EUR/USD, GBP/USD, and USD/JPY and are settled in USDT.
The products offer up to 100x leverage, allowing traders to control positions far larger than the collateral they post. Trading runs continuously, including on weekends and public holidays, creating a pricing risk due to thin liquidity during off-hours.
Bybit's FX launch is part of its growing TradFi Perpetuals suite, which now includes over 200 products tied to equities, commodities, exchange-traded funds, and pre-IPO companies. The exchange joins Kraken and BitMEX in offering crypto-native access to the $9.6 trillion daily FX market.
The contracts are integrated into Bybit's Unified Trading Account and use dynamic leverage and funding rate mechanisms common in crypto perpetual markets to keep contract prices close to their reference rates.