Dubai-based cryptocurrency exchange Bybit has officially expanded its traditional finance (TradFi) derivatives lineup with the launch of USDT-settled perpetual contracts tracking three major foreign exchange pairs: EUR/USD, GBP/USD, and USD/JPY. The synthetic instruments grant traders direct price exposure to movements in the underlying fiat currencies without requiring physical ownership or foreign currency deposits.
Settled entirely in USDT, the new contracts offer maximum leverage of up to 100x and run continuously 24/7, enabling market participants to trade or hedge currency risk even when traditional foreign exchange markets are closed over weekends. The FX launch integrates into Bybit’s Unified Trading Account (UTA) architecture and extends its broader TradFi Perpetuals suite, which debuted in April 2026 and now includes more than 200 instruments spanning global equities, commodities, exchange-traded funds, and pre-IPO assets.
Bybit’s rollout taps into the world’s most liquid financial sector, where global over-the-counter FX turnover averaged $9.6 trillion per day in April 2025, according to data from the Bank for International Settlements (BIS). The move follows similar FX perpetual offerings introduced by competitors like Kraken and BitMEX, highlighting an accelerating trend among major digital asset exchanges to bridge traditional macro markets and crypto-native collateral infrastructure.
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