Phemex TradFi Surpasses $10B Monthly Volume Amid Rising Demand

Phemex, a cryptocurrency exchange based in Apia, Samoa, has announced a significant milestone for its Traditional Finance (TradFi) platform. In its first month, the platform has achieved a trading volume exceeding $10 billion. This achievement is attributed to a surge in demand for tokenized gold and commodity contracts due to escalating geopolitical tensions.

The trading volume was notably driven by gold-related instruments, including XAU and PAXG perpetual contracts, as traders sought safe-haven assets. The TradFi platform offers round-the-clock access to various financial instruments, including stocks and commodities, alongside cryptocurrencies. This unique offering has led to a substantial 340% increase in active users quarter-over-quarter.

Federico Variola, CEO of Phemex, emphasized the platform's advantages, such as its 24/7 market access, which contrasts with traditional brokers' limited trading hours. Phemex plans to expand its asset offerings and features, aiming to bridge the gap between traditional and digital finance markets.