Binance Unveils FDUSD Stablecoin Listing With Free Trading Fees

Key Points:

• Binance listed First Digital USD (FDUSD) stablecoin on July 26, 2023, with zero listing fee.
• Users can start depositing FDUSD immediately and enjoy a zero-maker fee promotion.
• FDUSD is a 1:1 USD-backed stablecoin, offering transparency and programmable features without intermediaries.

Binance, the leading cryptocurrency exchange, has exciting news for its users. The platform is set to list the new stablecoin, First Digital USD (FDUSD), and open trading for new spot trading pairs starting from July 26, 2023, at 08:00 (UTC).

The newly available spot trading pairs will include BNB/FDUSD, FDUSD/BUSD, and FDUSD/USDT, offering users increased options for trading and investment opportunities.

To facilitate the adoption of FDUSD, users can begin depositing the stablecoin into their Binance accounts immediately. However, withdrawals for FDUSD will only be enabled starting from July 27, 2023, at 08:00 (UTC).

An interesting highlight of the launch is that Binance is waiving the FDUSD Listing Fee entirely, showcasing the exchange’s commitment to promoting new and promising digital assets.

To further celebrate the introduction of FDUSD, Binance is introducing a limited-time zero maker fee promotion for all FDUSD trading pairs. During this promotional period, which begins on July 26, 2023, at 08:00 (UTC) and will continue until further notice, all users can enjoy zero maker fees on FDUSD spot trading pairs. Moreover, this zero maker fee offer extends to any new FDUSD spot and margin trading pairs introduced during the promotion.

Not only that, but FDUSD will also be added to the zero trading fee promotion for USD stablecoin pairs. For the same promotional duration, users will experience zero maker and taker fees on the FDUSD/BUSD and FDUSD/USDT spot and margin trading pairs. This move aims to encourage users to explore and engage in FDUSD trading without worrying about additional fees.

FDUSD, which stands for First Digital USD, is a 1:1 USD-backed stablecoin that has been launched by FD121 Limited under the brand name of First Digital Labs. This stablecoin offers users a reliable digital currency solution designed to minimize the impact of volatility in the cryptocurrency market. It enhances the efficiency of financial transactions by reducing transaction costs and enabling faster, more secure transactions.

One of the most appealing aspects of FDUSD is its programmable nature, which allows for the execution of financial contracts, escrow services, and insurance without the need for intermediaries, streamlining processes for users.

The stablecoin is backed by high-quality reserves in the form of cash and cash equivalents, ensuring that every FDUSD token can be redeemed for its equivalent value in US dollars. This 1:1 backing demonstrates First Digital’s commitment to transparency and security, fostering increased trust and confidence in the stability of FDUSD.

To further enhance transparency, FDUSD’s reserve account undergoes regular audits by independent third parties, such as Prescient Assurance, with their attestation reports publicly shared every month. Users seeking the latest reserve details can visit the official website of First Digital Labs.

FDUSD is available on both the Ethereum and BNB Chains, and there are plans to extend support to an increasing number of blockchains in the future.

With the addition of FDUSD to its trading platform and the generous zero-fee promotions, Binance is once again demonstrating its commitment to providing users with a diverse and rewarding trading experience. However, recently, Changpeng Zhao’s exchange is facing legal challenges from the US authorities with allegations of money laundering.

As the crypto market evolves, stablecoins like FDUSD play a crucial role in offering stability and efficiency to traders and investors alike. With its promising features and transparent backing, FDUSD is likely to gain traction among users seeking a reliable digital currency option.

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.