#我的Gate交易时刻 From Gold, Oil to U.S. Stocks: The Deep Integration Path of TradFi and Crypto Markets

In the past year, TradFi has become popular in the crypto world, not because everyone suddenly fell in love with traditional finance, but because the market has been repeatedly educated on one thing: macro events are increasingly favored to "happen over the weekend."
Geopolitical conflicts, energy supply disruptions, sudden statements, and sanctions rumors often erupt when traditional markets are closed. As a result, traditional market investors can only wait until Monday’s open to reprice, while crypto markets, operating 24/7, naturally have the "pre-pricing" ability.
A typical example is oil: during the time window before traditional futures markets open, WTI crude oil perpetual contracts on some crypto platforms have already pushed prices into higher ranges, only for prices to revert amid the tug-of-war between reality and expectations once traditional markets reopen.
More critical than a specific price point is capital behavior: trading volume in related assets has increased by orders of magnitude within days, transforming from niche experimental products into a “new battleground” capable of attracting large short-term capital inflows. Behind this scene reflects a shift in trading habits: more and more traders are beginning to trade the volatility of traditional assets using crypto market methods—perpetuals, leverage, 24/7 trading, and open/close positions at any time.
The reason why the TradFi line can quickly heat up in exchange competition is fundamentally the combination of “time advantage” and “tool advantage”: in terms of time, the ability to set market conditions over the weekend; in terms of tools, the high capital efficiency of perpetual contracts makes expressing views simpler and more direct.
TradFi entry paths diverge: three product forms run in parallel If we break down the TradFi products of various platforms, we find that the industry is not doing the same thing but is divided into three relatively clear routes.
The first route is “perpetual contractization,” turning traditional assets into USDT-settled perpetual contracts, with key selling points being 24/7 trading, no expiration date, and an operation experience very close to crypto contracts. Oil, gold, and silver are the most common entry points because these assets have strong macro narratives, obvious event-driven factors, and demand for trading when volatility arises.
The advantage of this route is straightforward: no need to wait for market open, tradable on weekends, low learning curve for users; the downside is also realistic: when traditional markets are closed, prices are more easily amplified by crypto market liquidity and sentiment, making volatility more “crypto-like,” with higher risk management requirements.
The second route is “CFD multi-assetization,” which is more like bringing traditional broker’s spread contract systems into exchange accounts: forex, precious metals, indices, commodities, and some stocks can be traded, with trading rules closer to traditional markets (market hours, overnight fees, margin rules), suitable for more systematic cross-asset trading and hedging.
The third route is “U.S. stock/index tokenization or contractization,” focusing on incorporating the volatility of U.S. stocks and indices into the crypto trading framework, allowing traders to go long or short on popular stocks or indices directly on crypto platforms, especially suitable for event-driven and sentiment trading.
These three routes are not mutually exclusive; many platforms will deploy two or even three simultaneously because they target different user groups: the perpetual route is more suitable for high-frequency crypto contract traders; the CFD route is better for macro and cross-market traders; the U.S. stock/index route is ideal for those treating U.S. stock volatility as “crypto-like assets.”
The industry’s real change point lies in: the pricing discussion of traditional assets no longer only occurs on traditional exchanges. Increasingly, the “first wave of sentiment-based pricing” happens first in crypto platforms’ perpetual and derivative markets, then propagates back into traditional market narratives.

The choice of exchanges essentially reflects user positioning from the platform’s perspective, with differences mainly in “which demand to capture first.” bn currently leans more toward the “hot asset contractization” route, focusing on gold and silver, which are easier for crypto users to understand and get started with, with core selling points being USDT settlement, 24/7 trading, and operation logic close to crypto perpetuals.
The advantage of this model is very direct: users don’t need to relearn a whole set of traditional broker rules; when macro events or weekend surprises occur, they can immediately express their views on the platform. But its coverage is relatively focused, currently mainly targeting precious metals, which are the easiest to generate trading demand.
Bybt takes a different route, leaning more toward “multi-asset trading platformization.” It not only deals with precious metals but also incorporates forex, commodities, indices, and stocks CFDs into the TradFi system, supporting trading via MT5, emphasizing “using one USDT account to access more traditional financial assets.”
This model is more suitable for users already accustomed to cross-market trading, such as those who watch gold, monitor forex, and trade stocks’ volatility. Compared to single-asset perpetuals, this approach covers more assets but also aligns more with traditional CFD rules, requiring users to understand trading hours, spreads, fee structures, and risk differences across assets.
Gate’s TradFi is more like continuing along the “integration” path within this multi-asset route.
It also covers gold, forex, indices, commodities, and some stock CFDs, with account handling closer to crypto users—users transfer USDT into TradFi accounts, with balances displayed in USDx, while underlying trading still follows MT5 and traditional CFD risk frameworks.
In other words, it’s not about making TradFi a separate external system but about embedding it back into the crypto exchange’s account experience. Compared to bn, it covers more assets; compared to Bybt, it has its own design in rates, leverage levels, and account integration.
Overall, these companies are not simply in a strong or weak position but are each targeting different user habits: some prioritize “weekend gold trading” for crypto contract users; some focus on “multi-asset accounts” for cross-market traders; others are trying to make TradFi more integrated into the native exchange experience.
The core of TradFi competition: who can make cross-market trading smoother? Objectively, the rise of TradFi on crypto platforms has indeed brought faster pricing and higher trading efficiency, but it’s also a double-edged sword.
After traditional assets are filled in during the weekend “gap,” short-term capital is more willing to use leverage to chase event volatility, pushing prices to unsustainable levels during peak sentiment, then quickly retreating after traditional markets open and information is further confirmed; this structure can easily trigger chain liquidations, further amplifying volatility.
What exchanges offer is not “safer TradFi,” but “more efficient, more volatile TradFi.” This is easier for crypto users to understand: it’s like “crypto-izing” assets like oil, gold, and stock indices—faster, more aggressive, and more discipline-testing.
In the long run, industry trends are unlikely to reverse. Because for traders, the appeal of 24/7 trading is hard to refuse; for platforms, cross-asset trading can significantly increase user retention and trading frequency; for market structure, more assets entering the same derivative framework makes cross-market hedging more convenient and shortens the “macro event—sentiment pricing—trading volume explosion” chain.
The real watershed will come down to product details: how trading hours and risk controls are set, whether fees and overnight costs are transparent, whether liquidity and slippage can withstand volatility, and whether liquidation mechanisms are robust enough.
For crypto traders, the value of the TradFi line isn’t about “returning to traditional finance,” but about gaining a new macro toolkit for trading: when there’s a market, trade crypto; when there’s no market, trade macro volatility; hedge with gold, indices, or forex; and during weekend black swans, don’t be forced to wait for the open.
So the conclusion is simple: the growth of TradFi on crypto platforms is not just about feature expansion but a migration of trading habits and pricing power. Whoever can make this experience smoother, more stable, and more transparent will have a better chance to capture the next phase of growth.