Binance, the world’s largest crypto exchange, announced in a blog post that it will open trading in Bitcoin (BTC) and Ether (ETH) with First Digital’s FDUSD stablecoin with zero fees beginning tomorrow. This is part of Binance’s campaign to diversify trading volumes between stablecoin pairs following the regulatory clampdown on Binance USD (BUSD).
All trading fees will be waived for BTC/FDUSD, and maker fees will be 0% on ETH/FDUSD until further notice, the blog post stated. Binance had previously listed FDUSD on July 26 with zero trading fees to convert the token to other stablecoins including USDT and TUSD, and this promotion will include 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. Following the action against BUSD, Binance promoted trading with TrueUSD (TUSD) by waiving fees. This led to a surge in TUSD trading volume and its market capitalization grew to nearly $3 billion.