TREE NEWS update: Dubai-based crypto exchange Bybit has launched USDT-settled forex perpetual contracts for EUR/USD, GBP/USD and USD/JPY, offering 24/7 trading with up to 100x leverage. The contracts have no expiry and settle profits and losses in USDT, allowing traders to track underlying currency pairs without owning the currencies. They join Bybit’s TradFi Perpetuals line, launched in April, which now covers over 200 assets including stocks, commodities, ETFs and pre-IPO companies.
Bybit launches FX perpetuals with up to 100x leverage
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AI take
Bybit's move to merge forex with crypto-native perpetual mechanics signals a broader convergence of TradFi and digital asset venues, potentially drawing FX traders into crypto rails and vice versa. The 100x leverage on major currency pairs is notable for its risk profile, especially given 24/7 trading that diverges from traditional FX settlement cycles. This expansion, following the April launch of TradFi Perpetuals, underscores a push to offer a one-stop derivatives hub. The key question is whether liquidity and pricing depth will match established FX venues, and how regulators view leverage on non-crypto underlying assets.
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