Phemex launches 24/7 USDT‑settled TradFi futures with 0‑Fee Carnival and $100k incentives
Phemex has launched Phemex TradFi, a USDT‑settled futures product that brings traditional financial assets (initially stocks and precious metals, with commodities, FX and global indices to follow) onto its crypto derivatives platform with 24/7 trading. The exchange is promoting adoption via a “0‑Fee TradFi Futures Carnival”: three months of zero trading fees on stock futures starting Feb 6, a $100,000 incentive pool for structured participation, and a first‑trade protection that refunds eligible users with a trading bonus if their initial TradFi futures trade loses money. TradFi futures settle in USDT, use transparent maker‑taker pricing (rather than spread execution), and will support copy‑trading in future releases. Phemex frames the product as a step toward a unified, always‑on multi‑asset derivatives hub enabling traders to manage crypto and traditional exposures in one environment. Founded in 2019, Phemex serves over 10 million users and offers spot, derivatives, copy trading and wealth products.
Neutral
Market impact on crypto prices from this announcement is likely neutral. The launch expands derivative product access and could increase trading volumes on Phemex by attracting traders who want 24/7 access to traditional-asset futures settled in USDT. Promotions (zero fees, $100k incentives, first‑trade protection) will likely drive short‑term user activity and liquidity on the platform, but these are marketing incentives rather than changes to underlying crypto fundamentals. There is no native token announcement or on‑chain protocol change tied to the news, so direct upward pressure on major crypto prices (e.g., BTC, ETH) is unlikely. Over the medium to long term, wider adoption of USDT‑settled multi‑asset derivatives could marginally increase demand for stablecoins and centralized exchange flows, which may support trading volumes and fee revenue for exchanges but not necessarily crypto price appreciation. Traders should watch for increased order‑book depth and volatility on Phemex around the promotion window and for any later product expansions (commodities, FX, indices) that could shift capital between venues.