- Beginning March 22, Binance will remove fees when trading BTC with TUSD on its spot market.
- Other leading altcoins will enjoy a similar treatment for maker fees.
- It is not clear why Binance favored TUSD over its native stablecoin BUSD.
Binance announced that it will be waiving fees for trading bitcoins (BTC) with TrueUSD (TUSD) on its platform. This zero-fee trading promotion will go live on March 22 at 12AM (UTC).
Specifically, the zero fees will apply to all spot trades using the BTC/TUSD trading pair. Other favorite liquidity pairs will enjoy a similar treatment for maker fees. These include Binance coin (BNB) with TUSD and ether (ETH) with TUSD. As for the rest, standard fees will continue to apply.
The zero fees mentioned above will last indefinitely — until Binance decides to end it.
It is not clear why Binance is favoring TUSD over its native stablecoin Binance USD (BUSD). Previously, this same feature was available on BUSD. Some speculate that this is to show that the exchange is impartial toward cryptocurrencies, while others suggest it is because BUSD was impacted by the issues faced by Paxos.
For those who missed the news, Paxos was Binance’s issuer of BUSD. Last month, Paxos caught the short end of the stick when US regulators including the US Securities and Exchange Commission (SEC) and the New York Department of Financial Services (NYDFS) forced it to stop issuing BUSD.
Regardless, BUSD is becoming the second-largest USD-based stablecoin in terms of trading volume after Tether USD (USDT). In the last 24 hours, BUSD processed more than $11 billion in crypto transactions, as per CoinGecko.
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