Starting August 4th, traiding with the FDUSD-linked pairs is free.
Binance, a leading crypto exchange, has unveiled a significant update, initiating the trading of BTC/FDUSD and ETH/FDUSD pairs without fees, boosting the prospects of the newly added FDUSD stablecoin.
The introduction of zero-fee trading for Bitcoin/First Digital USD (BTC/FDUSD) and Ether/First Digital USD (ETH/FDUSD) spot and margin pairs commenced at 08:00 UTC on August 4th.
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This game-changing step includes maker and taker fees being removed for BTC/FDUSD trades through the Zero-Fee Bitcoin Trading Program. Additionally, for ETH/FDUSD trades, there will be no maker fee, but a standard taker fee will be charged depending on the user’s VIP level.
Binance’s decision to not include the trading volume for BTC/FDUSD spot and margin trading pairs in the VIP tier volume calculation or the Liquidity Providers programs amplifies the overall user experience. In a statement clarifying the new approach, Binance announced:
BNB discounts, referral rebates, and any other adjustments will not apply to the BTC/FDUSD spot and margin trading pairs during the promotion.
This initiative coincides with the recent launch of the First Digital USD (FDUSD) stablecoin, backed by Hong Kong-based custodian and trust company First Digital. While FDUSD was initially slated to be listed on Binance on July 26th, at 8:00 AM UTC, technical issues faced by liquidity providers led to a postponement until 2:00 PM UTC on the same day.
With a market cap of $257 million, FDUSD's presence in the stablecoin arena is relatively modest, especially compared to giants like USDT, TUSD, BUSD, and TerraClassicUSD (USTC). However, the addition of FDUSD to Binance's offerings, combined with potential demand, could spur a considerable increase in its market cap.
Binance's latest move marks a pivotal moment in the crypto trading landscape. By fostering a more cost-effective trading environment for specific pairs, the crypto exchange not only enhances the user experience but also sets a precedent that might reshape trading dynamics in the future.
