More than $1.1 trillion in TradFi perpetual contracts has settled through stablecoins, according to a new Binance Research report. The figure anchors the firm's broader finding that stablecoins are becoming the preferred settlement layer for tokenized traditional-finance markets. Binance Research also cites payments and savings as sectors where stablecoin adoption is gaining ground.
What the $1.1T represents
Perpetual contracts need a margin and settlement currency. When that currency is a stablecoin, net obligations between counterparties move on-chain rather than through a bank wire or custodian transfer. The $1.1T total reported by Binance Research shows how far that structure has extended across tokenized TradFi instruments.
The distinction Binance Research draws is mechanical: "settlement layer," not trading denomination. The settlement layer is the asset that moves when a position closes, separate from the unit in which a contract is quoted. At $1.1T in perpetual volume, stablecoins are functioning as operational infrastructure.
Payments and savings as the next adoption band
Perpetuals are high-frequency by design. Funding rates reset on short cycles, and positions turn over constantly.
Binance Research flags payments and savings as adoption areas alongside the perpetuals market. Those use cases run at lower velocity: fewer transactions per period, longer holding periods per unit of capital. The report does not attach a separate dollar figure to either category, so the $1.1T in perpetual trading remains the only quantified data point in the published findings.
$BNB
Binance Research is the research arm of Binance, the exchange behind the $BNB token. The published summary does not break down the $1.1T figure by blockchain or trading venue.