Binance announced on March 22 that it will migrate zero-fee Bitcoin (BTC) trading from Binance USD (BUSD) to TrueUSD (TUSD).
March 15th statementthe exchange said BUSD’s zero maker fee also excludes pairs with other assets such as BNB and Ethereum. It added that it also applies to trading pairs of BTC, including several other fiat currencies.
Meanwhile, the BTC/TUSD spot trading pair is currently zero Maker and Taker commission.
Pressed on the scope of the new policy, Binance CEO Changpeng ‘CZ’ Zhao said: clarified Or:
“BUSD 0 fee will stop in about a week.”
In 2022, Binance introduced zero commission trading on 13 BTC spot trading pairs. Since then, spot trading volume on the exchange has skyrocketed, accounting for his 62% of the industry’s total trading volume as of February.
CZ denounces ‘recent events’
Meanwhile, Binance CEO Changpeng ‘CZ’ Zhao said recent events in the cryptocurrency industry influenced the company’s decision.
In February, financial regulators in New York ordered BUSD issuer Paxos to suspend other mints of the stablecoin. In addition, U.S. financial regulators are controlling some crypto-friendly banks to limit the risks they pose to the broader financial industry.
On the other hand, TUSD experienced exponential growth during the same period. The stablecoin recently surpassed his 2 billion circulating supply and continues to grow in adoption.
