Binance has announced trading support for the First Digital USD (FUSD) stablecoin against both Bitcoin (BTC) and Ethereum (ETH). The exchange, the world’s largest by trading volume, will also provide zero-fee spot and margin trading for the two pairs – BTC/FDUSD and ETH/FDUSD.
According to a notice published August 3, Binance is adding the zero maker and taker fees feature for the BTC/FDUSD pair via its Zero-Fee Bitcoin Trading Program. This feature is effective at 08:00 UTC on August 4, 2023.
“During the promotion period, trading volume on the BTC/FDUSD spot and margin trading pairs will be excluded from the VIP tier volume calculation and all Liquidity Providers program. BNB discounts, referral rebates, and any other adjustments will not apply to the BTC/FDUSD spot and margin trading pairs during the promotion,” Binance announced.
Meanwhile, customers will benefit from zero maker fee for ETH/FDUSD via the FDUSD Zero Maker Fee Promotion and the standard taker fee, with this applicable as per a user’s VIP level. Binance’s conditions for the promotion include the exchange’s “right to disqualify trades that are deemed to be wash trades or illegally bulk registered accounts.” The company also reserves the right to disqualify trades deemed to be market manipulation or self-dealing.
The introduction of zero-fee trading for BTC/FDUSD comes a few months after Binance ended the zero-fee trading for BTC. The exchange also halted the zero-maker fee program for the stablecoin Binance USD (BUSD), with the promotion opening for TrueUSD (TUSD). This caused Binance’s market dominance to shrink by as much as 50%, impacting crypto prices as liquidity decreased.