Binance CEO Says TradFi-Linked Perpetual Futures Make Up 10% of Stablecoin Volume
Summary
- Richard Teng said perpetual futures linked to traditional finance account for about 10% of total stablecoin trading volume.
- He said stablecoins are gaining popularity as a way to settle stock-related trades 24 hours a day, easing the operating-hour constraints of traditional financial markets and banking systems.
- He added that users can save an average of 3.6%, or about $40, per trade in withdrawal and foreign-exchange fees when using stablecoin-based settlement.
Forecast Trend Report by Period
Binance Chief Executive Officer Richard Teng said stablecoin use is expanding in perpetual futures trading tied to traditional financial assets.
In a post on X on June 22, Teng wrote that perpetual futures linked to traditional finance already account for about 10% of total stablecoin trading volume.
Stablecoins are gaining popularity as a tool for settling stock-related trades around the clock, he said. That helps reduce the operating-hour constraints of traditional financial markets and banking systems, allowing users to complete trades and settlement faster.
Teng added that stablecoin-based settlement can save users an average of 3.6%, or about $40, per trade in withdrawal and foreign-exchange fees.
As tokenized stocks and traditional finance-linked derivatives proliferate, market participants say stablecoin use is expanding beyond cryptocurrency trading into the settlement of transactions involving traditional assets such as stocks and bonds.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.