A new collaborative report from MEXC and CoinGecko, titled How Crypto Exchanges Are Reshaping Traditional Asset Trading, reveals an explosive expansion in tokenized traditional finance (TradFi) assets on centralized crypto exchanges. According to the data, monthly TradFi trading volume across six major exchanges—Binance, OKX, Bybit, Bitget, Gate, and MEXC—soared from $3.46 billion in January 2025 to an astonishing $393.15 billion in June 2026, marking a growth of more than 100-fold over the 18-month period.
The surge was primarily driven by perpetual futures contracts, which accounted for 98.5% of total June volume. The combined market capitalization of tokenized TradFi markets grew from $1.41 billion at the start of 2025 to a peak of $7.50 billion in early February 2026, settling at $6.59 billion by June 30—a 366.7% increase. Total spot and perpetual trading volume across the six exchanges reached $1.45 trillion in the first half of 2026, more than ten times the total recorded throughout all of 2025. February alone generated $186.32 billion, surpassing the entire previous year’s volume.
In a notable shift, tokenized U.S. stocks overtook precious metals as the leading TradFi category in June. Monthly U.S. stock-linked volume jumped 337.4% to $189.84 billion, capturing a 48.3% market share, while precious metals volume declined 48.2% from its March peak to $122.59 billion. The report attributed much of the stock demand to semiconductor-related equities like Micron and SanDisk, as well as tokenized pre-IPO SpaceX shares.
Binance dominated the landscape, rising from $39.60 billion in January to $231.49 billion in June, commanding a 58.9% share of June’s volume. MEXC held second place for much of the year but slipped in June as OKX ($53.00 billion) and Bitget ($44.23 billion) overtook it. Open interest also climbed from roughly $60 million in early 2025 to $4.67 billion by June 30, with U.S. stock-linked contracts surpassing precious metals in mid-June at $2.01 billion.
A separate survey included in the report found that 83.3% of users plan to increase their TradFi trading on crypto platforms, highlighting strong ongoing demand for round-the-clock access and contract structures without expiry.
