Bybit Launches FX Perpetuals With Major Currency Pairs

What happened

Bybit has launched USDT-settled perpetual contracts, which are futures without an expiry date, for the currency pairs EUR/USD, GBP/USD, and USD/JPY, expanding its traditional finance derivatives business.

Confirmed

Global impact / market context

This lets traders bet on currency movements using Bybit's platform, potentially increasing trading volume and fees for Bybit. It also brings traditional foreign exchange markets, usually dominated by banks, to a crypto exchange, offering investors another way to speculate on exchange rates.

Analyst inference

The move broadens Bybit's product lineup beyond crypto-only assets, competing with established forex brokers. Since perpetual contracts use borrowed money, meaning they are traded with leverage, they can amplify both gains and losses, making currency trading more volatile for investors and potentially attracting risk-seeking capital.

Analyst inference

What to watch

1. Watch for official Bybit announcements about adding more currency pairs, such as other major crosses, to this perpetual contracts lineup, since the article confirms only the initial three pairs launched. Confirmed
2. Investors might monitor trading volumes on these new EUR/USD, GBP/USD, and USD/JPY perpetuals to gauge initial user adoption, which proposal suggests could indicate demand for forex products on crypto exchanges. Proposed
3. Regulators may scrutinize how Bybit handles borrowed money and investor protections for these forex perpetuals, since they blend crypto infrastructure with traditional currency markets, potentially leading to new compliance requirements for the exchange. Analyst inference

Affected assets

• USDT — Tether

Evidence

• catenaa.com