Crypto Exchanges
By Evie Vavasseur
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What Bybit Is Actually Offering. The contracts are settled in USDT, the dollar-pegged stablecoin, which is a deliberate choice.
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Who This Is Built For. Bybit seems to want two audiences at once. First, crypto traders who already live on the platform…
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Competitive Pressure Behind the Move. Bybit didn't launch this in a vacuum. The digital asset trading space has gotten crowded, and…
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Bybit just moved into forex. The crypto exchange launched USDT-settled perpetual contracts on three major currency pairs — EUR/USD, GBP/USD, and USD/JPY — with leverage up to…
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No expiration dates. No market close. That's the pitch.
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The contracts are settled in USDT, the dollar-pegged stablecoin, which is a deliberate choice. Crypto traders already hold USDT. Forex traders want dollar-denominated exposure.
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Perpetual contracts don't expire, which means a trader can hold a position as long as they want, provided they can handle the margin.
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The 24/7 angle matters more than it might seem. Traditional forex markets run Sunday evening through Friday afternoon in major financial centers, but they're not truly continuous.
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Bybit seems to want two audiences at once. First, crypto traders who already live on the platform and want to diversify without opening a separate forex brokerage account.
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It's a reasonable bet. Stablecoin-settled derivatives have grown sharply across the industry over the past few years.
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More context: New Tron-Staked ETF Launches, Offering Unique Income Opportunities for TRX Investors
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The hedging angle is worth noting too. A trader with crypto exposure can now use EUR/USD or USD/JPY perpetuals on the same platform to offset currency risk or macro risk without…
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Bybit didn't launch this in a vacuum. The digital asset trading space has gotten crowded, and exchanges are fighting hard for active traders — the ones who generate real fee…
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Adding forex pairs is probably also a response to the broader trend of crypto platforms bleeding into traditional finance.
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And the USDT settlement structure is smart from a regulatory optics standpoint too — maybe. It keeps the product denominated in a stablecoin rather than a volatile crypto asset,…
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