Binance, one of the largest and most popular cryptocurrency exchanges in the world, has recently announced that it will expand its zero-fee trading option with TrueUSD (TUSD), a regulated stablecoin backed by US dollars. This comes after Binance minted $1 billion worth of TUSD on its own blockchain, Binance Smart Chain (BSC), making it the largest issuer of the stablecoin.
Binance currently offers zero-fee trading for Bitcoin (BTC) and several other asset pairs, but it will soon remove this option for all of them except for TUSD.
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The company announced that starting from June 30 and until further notice, all users can trade without paying any taker fees. However, the standard taker fees will still apply to other transactions. The promotion period also covers the BTC/TUSD, TUSD/BUSD, and TUSD/USDT trading pairs, which will have zero taker fees as well.
Starting from the same date, Binance will offer zero trading fees for all USD stablecoin pairs, both existing and new ones, on its spot and margin markets.
Binance has announced that it will continue to offer zero maker fees for all spot and margin trading pairs involving BUSD until the end of 2023, except for BNB/BUSD, BTC/BUSD, and ETH/BUSD pairs. This promotion aims to encourage the use of BUSD, a regulated stablecoin backed by the U.S. dollar.
Meanwhile, Binance has also launched a zero-maker fee promotion for TUSD, another USD-pegged stablecoin that has gained popularity among Binance users. The promotion applies to all spot and margin trading pairs involving TUSD, including BTC/TUSD which also has zero taker fees. The promotion will last until further notice.
These announcements come at a time when Binance is facing regulatory challenges and legal actions in various jurisdictions. The U.S. Securities and Exchange Commission sued Binance earlier this month for allegedly violating securities laws. In addition, Le Monde reported that Binance was under investigation for suspected money laundering in France.