Binance Enters Traditional Finance with Gold and Silver Options

Binance has taken a significant step into traditional finance by launching options trading for gold and silver on its platform.

The new feature allows users to speculate on precious metals without actually owning them, with trades settled in Tether (USDT).

For now, retail users can buy to open and sell to close, but short-selling to open is not allowed. The contracts are traded on Nest Exchange Limited and cleared by Nest Clearing and Custody Limited.

The move follows Binance receiving a full license under the Abu Dhabi framework, making it the first global crypto exchange to do so.