Binance Lists Gold, Silver Options After $7.7B Futures Peak

Binance has expanded into precious metals derivatives with the launch of gold and silver options through Nest Exchange Limited, its regulated exchange entity in the Abu Dhabi Global Market. The European-style contracts went live Wednesday and settle in Tether's USDT stablecoin rather than physical delivery.

The launch follows the introduction of gold and silver perpetual futures on the platform in January. Binance said gold perpetual futures have reached a peak daily trading volume of $7.77 billion, while silver perpetuals recorded a peak of $7.27 billion. At those levels, gold activity represented roughly 3% to 8% of COMEX gold volume, while silver represented about 9% to 20% of COMEX silver volume.

Contract Mechanics

The new options can only be exercised at expiration. Call options provide exposure to rising prices, while put options offer protection against falling prices. Buyers pay an upfront premium, which caps their maximum loss. The contracts reference a weighted average of gold and silver prices from multiple independent market data vendors, reducing reliance on any single trading venue or tokenized metal product.

Eligible retail customers can buy gold and silver calls or puts but are not initially permitted to write, or sell, options. Option writing is limited to designated market makers, who are expected to provide bids and offers across strikes and expirations. Binance said the restriction limits retail losses to the premium paid and places the more complex risk of selling contracts with professional liquidity providers.

Shunyet Jan, head of exchange and trading at Binance, said the firm has seen strong demand for its commodity perpetuals since introducing them earlier this year. "With gold hitting record highs and investors seeking inflation hedges outside traditional equities, Binance's commodity options offer users additional compliant, crypto-native ways to diversify without leaving the platform," he said.

Binance is supporting the launch with educational videos and risk disclosures required under its ADGM framework. The exchange is also considering whether limited retail option writing could be introduced later under stricter eligibility and risk controls.

The move further narrows the divide between crypto exchanges and conventional commodity brokers, allowing traders to use stablecoin collateral for leveraged metals exposure without opening a traditional futures account. Binance said it plans to add options tied to other underlying assets, though it has not specified which markets will follow.