Binance Expands DeFi Reach with USDT0-Collateralized Markets

Binance has made significant strides in its mission to popularize decentralized finance (DeFi) by launching the first USDT0-collateralized HIP-3 markets. This development is part of a larger effort to provide users with more accessible and efficient trading options.

The new markets, which include indices like USA500, TSLA, NVDA, GOLD, and SILVER, are built on LayerZero's OFT standard. Since January, Binance has processed over $50 billion across 15 networks, demonstrating the platform's growing influence in the DeFi space.

The launch of these markets is expected to attract a wider audience, particularly CEX traders who use USDT margin daily and global retail holders who keep their savings in Tether. Additionally, regions where USDT is a standard unit of account are likely to see increased adoption.