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Binance’s zero maker fees for TUSD trading pairs are essential in stablecoin evolution. The move could redefine stablecoin trading and boost adoption and liquidity. Binance catalyzes stablecoin evolution by removing barriers and incentivizing TUSD trading.
Zero Maker Fees for BUSD Trading: Binance’s Exciting Promotion
Binance announced zero-maker fees for TrueUSD (TUSD), including spot and margin trading. With this promotion, Binance users can trade USD stablecoin pairs cost-effectively. Fee-free USD stablecoin trading is now available on the platform.
The standard taker fees will still apply to TUSD spot and margin trading pairs during this promotion.
Maker and taker fees serve different purposes in trading. Traders who place limit orders get a rebate from maker fees, while traders who execute those orders get charged taker fees.
Binance has extended the zero-maker fee promotion for BUSD (Binance USD). The promotion eliminates maker fees for BUSD trades and will now last until December 31, 2023. On Binance, traders can make fee-free trades involving BUSD during this extended period.
This promotion covers all BUSD spot and margin trading pairs (except BTC/BUSD, BNB/BUSD, and ETH/BUSD). Please note that taker fees will still apply to these BUSD spot and margin pairs.
According to the recent announcement, the promotion doesn’t apply to BUSD-margined futures contracts on the crypto exchange.
The promotion only applies to BUSD spot and margin trading pairs on the crypto exchange. Other fees, like withdrawal fees, still apply.
Binance Boosts TUSD Trading with Promotions and Regulatory Milestones
The recent promotion on TUSD pairs isn’t surprising. Due to regulatory challenges with BUSD, Binance decided to incorporate TUSD.
Prime Trust temporarily halted the stablecoin’s issuance process on June 10.
According to Arkham Intelligence, Binance has minted approximately $1 billion worth of TUSD (TrueUSD) on the Tron network.
Currently, TUSD is available on 12 different public chains, including Ethereum, TRON, BSC, Fantom, Avalanche, and Polygon.
The TrueUSD has gained popularity, partly due to Binance’s support, despite having a smaller market cap and trading volume than USDT (Tether).
A cryptocurrency company called ArchBlock (formerly TrustToken) is issuing TrueUSD, the fifth-largest stablecoin pegged to the US dollar.
Binance, the biggest cryptocurrency exchange by trading volume, is currently facing growing regulatory challenges.
The US Securities and Exchange Commission (SEC) sued Binance and its CEO earlier this month.
Binance is also being investigated in France for money laundering.
Binance has withdrawn its application to operate in the United Kingdom and asked the Cyprus securities regulator to terminate its registration.
In the United States, Binance also faces a class-action lawsuit for allegedly aiding and abetting unregistered securities sales.
Binance’s withdrawal from the UK and termination of its registration in Cyprus is likely due to its legal issues in the US.
The class-action lawsuit claims that Binance knowingly facilitated the sale of unregistered securities, and the company may have realized that further expansion in other countries could make it more vulnerable to similar legal action.
In all investigations, the company has denied any wrongdoing.
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