On May 29, Injective directly brought the Euro (EUR) and the British Pound (GBP) onto the chain. This is not just about launching a new asset; it is a formal entry into the largest and most liquid foreign exchange market in the world. Everyone knows that the foreign exchange market has a daily trading volume of 7.5 trillion dollars, with the EUR/USD currency pair alone accounting for 1.7 trillion, far surpassing stocks and commodities. This time, Injective essentially moved a game that only banks and institutions could play onto the chain, allowing ordinary people to play freely 24/7 with just a wallet, without needing to open an account, without a minimum amount, and without worrying about weekend market closures—completely permissionless. The core relies on their own iAsset framework, tokenizing foreign exchange like native tokens, sharing liquidity, serving as collateral, enabling derivatives, and combinations. Coupled with Injective's built-in order book and derivatives module, the space for creative plays is fully expanded. For traders: no more need to go to CEX or find someone in the OTC market; if you want to trade Euros and Pounds, you can do it directly on-chain, with leverage available, and trading can happen even on weekends, with complete transparency in settlement.
For developers: this is like opening a new map—foreign exchange currency pairs can serve as collateral, can be used for basis trades, can be hedged, and can be freely combined with RWA, adding several more pages to DeFi primitives. Honestly, this step has completely exposed Injective's ambition: not satisfied with being just a DeFi toy, it aims to be the foundation for real-world assets on-chain. Stocks and commodities have already been tackled; now even foreign exchange is captured, and the next card is likely to be bonds or something even tougher. Of course, success will still depend on subsequent liquidity, whether market makers are strong enough, whether spreads can be compressed, and whether regulators will come knocking. But regardless, this move has truly raised the ceiling once again. Now, the only question left is: who can fill the liquidity first will be able to take a piece of this 7.5 trillion cake.
I have already connected my wallet, just waiting to watch the show.
