Key highlights:

Kraken launches Forex trading on its global platform

Kraken offers trading in nine major currency pairs

Other exchanges might soon follow suit in Kraken’s direction

On Thursday, March 12, the Kraken cryptocurrency exchange launched forex trading services on its platform. The action comes as a bold step in integrating digital assets with traditional assets, and only serves to underline the growth of cryptocurrency exchanges over the past decade.

Kraken adds 6 currencies and 9 forex trading pairs

Kraken is offering Forex trading in six major currencies: USD, CAD, CHF, EUR, GBP, and JPY. Trading pairs are offered on the platform between these currencies as well as the digital currencies listed on the exchange.

For the foreseeable future, Kraken will be applying some restrictions the availability of its forex trading pairs, as they will not be available to Kraken's United States-based customers. Another restriction is that Kraken is not offering margin trading for its forex pairs, at least not at launch.

However, Kraken is differentiating itself from popular forex trading providers by setting a very low minimum for each trade - the minimum trade size in each transaction is only 10 units.

The San Francisco-based exchange has long been known for its reputable management, with subsidiaries created and managed around the globe. Despite starting earlier than most cryptocurrency exchanges that are operating today, Kraken is one of the few crypto exchanges that are yet to suffer a security breach.

With a solid and growing reputation, it is not difficult to see Kraken command some respect among its huge customer base.

Kraken will be offering FX trading services in the following pairs, as more trading pairs are expected to be added soon in the future: EUR/USD, EUR/CHF, EUR/CAD, USD/CAD, EUR/GBP, USD/CHF, USD/JPY, GBP/USD and EUR/JPY.

While no other crypto exchanges have made an explicit announcement to launch FX trading on their platforms, Kraken's move to offer forex trading pairs could certainly be a step that other crypto exchanges would be eager to emulate.