Binance Lists First Digital\'s FDUSD Stablecoin, Opens BTC and ETH Trading With Zero Fees

The listing comes as Binance is aiming to diversify trading volumes between stablecoin pairs following this year's regulatory clampdown on BinanceUSD (BUSD)

Binance,the crypto exchange behemoth, will open trading in BTC/FDUSD with 0% trading fees and maker fees on ETH/FDUSD as part of a campaign to diversify trading volumes in the wake of the regulatory clampdown on Binance USD (BUSD), according to a blog post on Friday. The move comes after New York state regulators ordered BUSD issuer Paxos to halt issuing the stablecoin in February. In response, Binance promoted trading with TrueUSD (TUSD) by waiving fees, which led to a massive increase in TUSD trading volume and a rise in its market capitalization to nearly $3 billion. Binance listed FDUSD on July 26 with 0% trading fees to convert the token to other stablecoins, including USDT and TUSD, indicating that the promotion will apply to all existing and new FDUSD trading pairs. The FDUSD stablecoin is issued by a registered trust owned by First Digital under Hong Kong's digital asset rules.

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