Injective, a leading Layer 1 blockchain for Web3 finance, has announced the launch of tokenized versions of the Euro (EUR) and British Pound (GBP) for on-chain trading. This move follows the rollout of Injective’s iAsset framework, which aims to bridge the gap between traditional financial assets—such as stocks, commodities, and now, forex—and the blockchain.
In a blog post, Injective explained that tokenization and on-chain finance offer solutions to the limitations and accessibility challenges that currently affect the traditional forex market. The platform has previously tokenized major stocks, including Nvidia and Tesla. With the addition of Euro and GBP forex pairs, Injective is broadening its offerings.
The Euro and British Pound are two of the most actively traded currencies globally, contributing to the forex market’s daily trading volume, which exceeds $7.5 trillion. Notably, the Euro/US Dollar (EUR/USD) pair alone accounts for more than $1.71 trillion in daily transactions, representing over 22% of the total forex trading volume. With this new development, Injective’s tokenized forex pairs will provide decentralized finance (DeFi) users with 24/7, year-round access to traditional financial markets.
Injective’s team noted that entering the Euro and GBP forex markets marks more than just an expansion of trading pairs—it reflects the growing maturity of DeFi as a viable and comprehensive alternative to conventional financial systems.
Injective, incubated by Binance and supported by Pantera, is one of the key players in the blockchain space, focusing on asset tokenization and Real-World Asset (RWA) markets.
The integration of traditional financial instruments into blockchain networks is attracting significant interest from both traditional finance (TradFi) and cryptocurrency sectors. Earlier this month, Bloomberg reported that Robinhood Markets Inc. plans to use blockchain technology to bring tokenized U.S. stocks to European investors. Similarly, cryptocurrency exchange Kraken is preparing to offer tokenized stocks for over 50 major U.S. companies, including Apple, Tesla, and Nvidia, as well as tokenized exchange-traded funds (ETFs).
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