Injective Launches On-Chain Forex Markets for Euro and British Pound
May 29, 2025 | By Benson Toti
Edited by Jayson Derrick
Injective, a prominent layer-1 blockchain dedicated to web3 finance, has officially introduced tokenized versions of the Euro (EUR) and British Pound (GBP) for on-chain trading. This development signifies a significant expansion of Injective’s financial offerings, enabling users to trade major forex currencies directly within the decentralized finance (DeFi) ecosystem.
Enhancing Access to Forex Markets
The move to launch forex trading capabilities comes on the heels of Injective’s rollout of its iAsset framework, which aims to create seamless connections between traditional financial markets and blockchain technology. The framework facilitates the tokenization of various assets, including stocks and commodities, thereby addressing the barriers to accessibility prevalent in traditional forex markets.
In a recent blog post, Injective emphasized that these advancements in on-chain finance will help level the playing field for retail traders, as the traditional forex market tends to be dominated by large financial institutions. This initiative exemplifies Injective’s commitment to enhancing accessibility and transparency within the financial trading space.
Market Impact and Trading Volume
The foreign exchange market is colossal, with a staggering daily transaction volume of approximately $7.5 trillion, making it one of the largest financial markets globally. The inclusion of EUR and GBP trading pairs is expected to further attract users, as these currencies are among the most traded worldwide, rivalled only by the U.S. Dollar and the Japanese Yen.
For context, the EUR/USD currency pair alone sees an impressive daily trading volume exceeding $1.71 trillion, accounting for over 22% of all forex transactions. Injective’s introduction of these trading pairs allows for continuous trading opportunities, available 24 hours a day, 365 days a year. This provides global users with unparalleled access to forex trading without many of the constraints typically found in traditional markets.
A Sign of DeFi’s Maturation
Injective’s foray into forex trading is hailed not just as an addition of new trading instruments but rather as a pivotal step towards the maturation of decentralized finance as a viable alternative to conventional financial systems. The Injective team noted, “Injective’s expansion into forex trading with EUR and GBP markets represents more than just adding new trading instruments. It signals the maturation of DeFi into a comprehensive alternative to traditional financial markets.”
Interest from Other Market Players
Injective is not alone in its pursuit of tokenizing traditional financial assets. The opportunity to transition real-world assets onto blockchain networks has caught the attention of several significant players in the finance and cryptocurrency spaces. Recently, reports surfaced that Robinhood Markets Inc. is exploring the tokenization of U.S. stocks for European investors, while crypto exchange Kraken plans to introduce a variety of tokenized stocks from major U.S. companies, including Apple and Tesla.
This trend underscores a broader shift towards integrating blockchain technology into established financial frameworks, further suggesting a collaborative future for traditional finance and decentralized ecosystems.
Conclusion
With the launch of on-chain forex trading for the Euro and British Pound, Injective is poised to not only enhance trading opportunities for users but also to contribute significantly to the growth and evolution of the decentralized finance sector. As interest in tokenized assets continues to soar, the potential for a more inclusive trading environment remains promising within the blockchain landscape.
For more updates, stay tuned to our coverage on blockchain technology and its impact on financial markets.
Share this article:
