Binance Hits Commodity Trading Milestone with Gold and Silver Futures

Binance has made significant strides in the commodity trading market, surpassing a substantial milestone. The exchange has achieved a remarkable $70 billion in commodity trading volume following the introduction of gold and silver futures trading.

The introduction of these new financial instruments has proven highly successful for Binance, one of the world's largest crypto trading platforms. This is especially notable given that the trading only launched early this year.

Binance offers 24/7 trading of gold and silver through USDT-margined perpetual futures contracts (XAUUSDT, XAGUSDT). These contracts provide synthetic, non-physical exposure to price movements in precious metals.

The recent rebound in the price of precious metals is likely a contributing factor to the increase in commodity trading volume. In addition to this development, Binance's stablecoin reserves have surpassed $45 billion, representing 65% of all centralized exchange stablecoins.