Crypto exchange BingX reported its traditional finance trading product surpassed $1 billion in 24-hour volume, with gold contracts accounting for more than half the total as the precious metal extended gains to test a record $4,722 per ounce.
BingX TradFi Volume Hits $1 Billion as Gold Trading Surges
Gold trading on the platform exceeded $500 million within the 24-hour period, driven by heightened demand as geopolitical tensions pushed the metal up 2.6% on Tuesday. The rally came after President Trump threatened additional tariffs on European nations over control of Greenland, reigniting safe-haven buying across markets.
BingX launched its TradFi product earlier this month, offering perpetual futures contracts tied to more than 50 traditional financial assets. The platform uses perpetual futures, or "perps," which have no expiration date and settle in USDT, operating 24/7 like crypto markets.
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"As the demand for TradFi continues growing, we remain at the forefront of delivering robust products and services that adapt to our users' evolving needs." Vivien Lin, Chief Product Officer at BingX, commented. "Our expanded suite of offerings provides traders with greater choice and broader market access, unlocking new opportunities in a dynamic environment.”
Unlike contracts-for-difference offered by regulated brokers, these instruments fall under crypto exchange infrastructure and offer leverage up to 500x.
Volume Concentration Mirrors Precious Metals Rally
Gold's dominant share of BingX's TradFi volume reflects the metal's explosive performance over the past year. Prices climbed roughly 65% in 2025 and added another 9% in the first three weeks of 2026.
The January surge accelerated after a criminal investigation into Federal Reserve Chair Jerome Powell sparked concerns about central bank independence, with some analysts projecting targets as high as $6,000 for 2026.
Volatility in precious metals has also affected traditional market infrastructure. CME Group shifted gold, silver, platinum, and palladium futures margins from fixed amounts to percentage-based requirements earlier this month, while liquidity providers like Scope Prime adjusted spreads in response to price swings.
BingX’s copy trading feature for traditional assets reached a single-day peak of $51.84 million within 15 days of launch, according to company data.
Crypto Exchanges Push Into Broker Territory
BingX joins rival platforms Binance and Bitget in expanding beyond digital assets. Binance introduced perpetual contracts on commodities like gold and silver, settling them against USDT under Abu Dhabi Global Market oversight, though stablecoin settlement may limit EU availability.
Bitget rolled out derivatives on gold, forex, metals, indices, and stock-based contracts under Mauritius Financial Services Commission oversight. The moves blur lines between crypto platforms and retail brokers, with exchanges leveraging round-the-clock trading and stablecoin settlement to bypass traditional brokerage friction.
Crypto.com purchased Cyprus-based broker Allnew Investments in mid-2025 to obtain a MiFID license, though planned CFD offerings have not yet materialized.
Other platforms like XBO.com launched tokenized stocks, linking major equities with crypto markets.
The convergence, however, flows both ways. CFD broker Axi expanded to over 150 crypto contracts last year as perpetual futures captured 76% of crypto derivatives volume.
BingX serves over 40 million users globally and ranks among the top five crypto derivatives exchanges. The exchange sponsors Chelsea FC and became the first official crypto exchange partner of Scuderia Ferrari HP in 2026.
