Dubai – September 11, 2026 -- Bybit, the world's second-largest cryptocurrency exchange by trading volume, has launched Forex Perpetual Contracts, adding a new derivatives category with three USDT-settled pairs: EURUSDUSDT, GBPUSDUSDT, and USDJPYUSDT.
New contracts track spot FX rates without expiry using crypto collateral
The three pairs mirror their respective spot exchange rates and carry no expiry date, letting traders hold continuous FX exposure while posting crypto assets as collateral. The products integrate Bybit's crypto-native derivatives mechanics -- funding rates, dynamic leverage, and the platform's Unified Trading Account -- into foreign exchange trading.
OTC FX turnover hit $9.6 trillion daily in April 2025, up 28% from 2022
According to the Bank for International Settlements' latest Triennial Central Bank Survey, daily OTC FX turnover averaged $9.6 trillion in April 2025, up from $7.5 trillion in 2022. Interest rate derivatives turnover rose to $7.9 trillion per day over the same period, underscoring the scale of the market Bybit is now targeting with crypto-collateralized access.
Contracts trade 24/7, bypassing traditional market closures
Unlike traditional FX markets that close on weekends, Bybit's FX Perpetuals remain tradable around the clock, allowing users to react to weekend macro news, central bank statements, and geopolitical developments without waiting for underlying markets to reopen. EUR/USD and USD/JPY rank among the two most traded currency pairs globally, while GBP/USD trading activity is closely tied to Bank of England policy decisions.
Launch expands TradFi Perpetuals suite past 200 assets since April 2026
The FX pairs extend Bybit's TradFi Perpetuals lineup, which debuted in April 2026 and has since grown to cover more than 200 assets across global equities, commodities, ETFs, and pre-IPO names. Bybit joins a small group of crypto-native platforms that have rolled out crypto-collateralized FX perpetual products in recent months, as exchanges compete to consolidate traditional and digital asset trading into single accounts.
Bybit positioned the contracts as a hedging tool for traders seeking to offset FX volatility ahead of anticipated interest rate hike cycles in late 2026 and 2027. The exchange cautioned that FX Perpetuals, like other leveraged derivatives, carry liquidation risk and are intended for traders familiar with margin trading.