Binance Now Allows TUSD Spot Trading With Zero Maker Fee From June 30

Key Points:

• Binance introduced a new zero-maker fee offer for TUSD spot and margin trading pairs in order to demonstrate its support for the currency.
• All customers may enjoy zero-maker fees on all TUSD spot and margin trading pairs from June 30 till further notice.

Binance, the world’s biggest exchange, has launched a new zero-maker fee offer for TUSD spot and margin trading pairings.

According to the exchange, all users will be eligible for zero maker costs on all TUSD spot and margin trading pairings beginning June 30, 00:00 (UTC), and continuing until further notice.

Binance has launched a zero-fee trading promotion for USD stablecoin pairings. During the promotion time, all current and new USD stablecoin spot and margin pairings, including but not limited to BUSD/USDT, TUSD/BUSD, TUSD/USDT, USDC/USDT, and USDP/USDT, will have zero maker and taker costs. The BUSD zero-maker fee promotion will be extended until December 31, 2023, at 00:00 (UTC).

Binance began giving free BTC trading with 13 spot pairings in July 2022 to commemorate its fifth birthday. This scheme immediately increased Bitcoin trading volume on the exchange, but it also created a significant amount of criticism aimed at the exchange.

Nonetheless, the exchange has kept the zero fees in place since then. Nevertheless, in March, Binance abruptly announced that free BTC trading would be discontinued, with the exception of pairings containing the stablecoin TrueUSD (TUSD).

TUSD supply increased by 52% on June 16. Despite the drop in stablecoins owing to significant redemptions, notably from projects like USDC, DAI, and BUSD, the project TUSD has seen a significant increase in supply. TUSD has increased its token supply by more than a billion dollars. TUSD has a market value of roughly $3.13 billion at the time of writing.

As Coincu reported, stablecoin issuer TrueUSD said that it is seeking to restart TUSD minting on Prime Trust. According to the notice, operations will resume to offer a flawless experience for its consumers. The minting of this stablecoin on Prime Trust began after the firm was rumored to be going bankrupt and selling it to Bitgo.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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