Binance’s zero maker fee promotion for TUSD and BUSD trading pairs revolutionizes stablecoin trading amidst regulatory challenges.
Zero maker costs for TrueUSD (TUSD) trading pairs have been introduced by Binance, the largest cryptocurrency exchange in the world, in a move that is expected to completely disrupt the stablecoin trading environment. This strategic strategy aims to accelerate stablecoin evolution to new heights, promote broad adoption, and improve liquidity.
Since maker costs for TUSD spot and margin trading have been totally reduced, the recent news has given Binance users additional opportunities to engage in relatively affordable trading of USD stablecoin pairs. With the ultimate goal of providing its customers with a frictionless and satisfying trading experience, Binance is taking this brave step to break down barriers and encourage TUSD trading.
Notably, the Binance USD (BUSD) trading pairs are now included in the zero-maker fee promotion, giving traders a fee-free trading option till December 31, 2023. Users can benefit from fee-free transactions in BUSD over this extended period across a variety of spot and margin trading pairings, with the exclusion of BTC/BUSD, BNB/BUSD, and ETH/BUSD. But it’s vital to remember that taker fees will still be applicable to these particular BUSD pairs.
Embracing TrueUSD to Promote Stability and User Support, Binance Adapts to Regulatory Challenges
While this promotion represents a tremendous accomplishment, it also comes at a time when Binance is now facing regulatory difficulties. Binance has implemented TrueUSD in response to the BUSD’s complexity in order to preserve stability and give its users unwavering support. On June 10, Prime Trust, the organisation in charge of issuing TUSD, momentarily paused that process, prompting Binance to embrace this specific stablecoin.
The liquidity and accessibility of this stablecoin have reportedly been strengthened by Binance’s anticipated $1 billion worth of TUSD minting on the Tron network, according to reports by Arkham Intelligence. Currently, TUSD can be used with 12 different public chains, including well-known ones like Ethereum, TRON, BSC, Fantom, Avalanche, and Polygon.
TrueUSD has gained significant popularity despite having a smaller market capitalization and trade volume than USDT (Tether), partly because of Binance’s unwavering backing. The fifth-largest stablecoin tied to the US dollar, TrueUSD is produced by ArchBlock, formerly known as TrustToken.
However, it is worth noting that Binance finds itself grappling with mounting regulatory challenges. The exchange has been subjected to scrutiny and legal actions, including a recent lawsuit by the US Securities and Exchange Commission (SEC) against Binance and its CEOHowever, it is important to note that Binance is currently coping with escalating regulatory difficulties.
The US Securities and Exchange Commission (SEC) recently sued Binance and its CEO after the exchange came under scrutiny and was the target of legal activities. Investigations into charges of money laundering in France have also made things more difficult. In addition to withdrawing its application to operate in the UK, Binance has asked that the Cyprus Securities Regulator revoke its registration.
Investigations into charges of money laundering in France have also made things more difficult. In addition to withdrawing its application to operate in the UK, Binance has asked that the Cyprus Securities Regulator revoke its registration.
Despite these obstacles, Binance is nevertheless steadfast in its determination to promote innovation in the cryptocurrency industry, as seen by the implementation of zero maker fees for TUSD and BUSD trading pairs. The exchange keeps looking for new ways to redefine and reshape stablecoin trading, revolutionising the market as it moves forward.