Binance ditches BUSD’s Bitcoin free trading for TUSD

Binance said it is moving its zero-fee Bitcoin (BTC) trading from Binance USD (BUSD) to TrueUSD (TUSD) on March 22. In a March 15 statement, the exchange said BUSD’s zero maker fee would also exclude its pair with other assets like BNB and Ethereum. It added that standard trading fees would also apply to its […]

Don't got time to read? Listen it & multi task

Binance said it is moving its zero-fee Bitcoin (BTC) trading from Binance USD (BUSD) to TrueUSD (TUSD) on March 22.

In a March 15 statement, the exchange said BUSD’s zero maker fee would also exclude its pair with other assets like BNB and Ethereum. It added that standard trading fees would also apply to its BTC’s trading pairs, including Tether’s USDT and several other fiat currencies like the British Pounds, Australian Dollars, Euros, etc.

On the other hand, BTC/TUSD spot trading pairs would now enjoy zero maker and taker fees.

When pressed about the extent of the new policy, Binance CEO Changpeng ‘CZ’ Zhao clarified that:

“0 fee will stop on BUSD in about a week.”

In 2022, Binance introduced zero-fee trading for 13 BTC spot trading pairs. Since then, the exchange has seen a surge in its spot volumes, accounting for 62% of the industry’s total trades as of February.

CZ blames “recent events”

Meanwhile, Binance CEO Changpeng ‘CZ’ Zhao said the recent events in the crypto space swayed the firm’s decision.

In February, New York financial regulators ordered BUSD’s issuers Paxos to stop other mints of the stablecoin. Besides that, the U.S. financial regulators have taken control of several crypto-friendly banks to contain the risk they pose to the broader financial industry.

Meanwhile, TUSD has grown in leaps and bounds during the same period. The stablecoin recently saw its circulating supply cross the 2 billion mark, and its adoption has continued to grow.

The post Binance ditches BUSD’s Bitcoin free trading for TUSD appeared first on CryptoSlate.

Latest articles by Glenn Nasta

PEGA Pool is the Powered By Sponsor for Mining Disrupt 2023, Supporting Greener Future for Bitcoin Mining
Codego Crypto Gift Cards
Codego Launches the New Era of Crypto Gift Cards
HJHRE Reports HJH Investments’ First Quarter 2023 Results
Introducing DexCheck: The Future of AI-Enhanced Analytics in Crypto and NFT Markets
Introducing DexCheck: The Future of AI-Enhanced Analytics in Crypto and NFT Markets
Translate »