Binance Launches Zero Fees on Trading Pairs

Top crypto exchange Binance has launched zero-fee trading for six FDUSD spot and margin trading pairs, including XRP and Dogecoin.

Binance announced in an official blog post that it will begin zero-fee trading for certain spot and margin trading pairs, including DOGE/FDUSD and XRP/FDUSD, on Dec. 8 at 12:00 a.m. (UTC) and will continue until further notice.

This benefit will be available to all users, who will pay zero maker or taker fees for the selected spot and margin trading pairings, which include the DOGE/FDUSD and XRP/FDUSD pairs.

The trading volume on the trading pairs will be excluded from the VIP tier volume calculation and all liquidity provider programs throughout the promotion period, as indicated in the blog post.

Binance announced the addition of DOGE/FDUSD and XRP/FDUSD to its list of trading pairs in September. FDUSD is a fiat-backed stablecoin introduced in June by First Digital.

Binance is speeding up the transition away from its exchange-branded stablecoin, BUSD, by providing incentives to traders on the world’s largest crypto-trading platform.

Crypto exchange Binance is in the last phases of phasing out support for BUSD stablecoin. As reported, Binance will be delisting several BUSD trading pairs, including XRP and Dogecoin, from Dec. 11-15, when it will completely cease support for BUSD products.

Binance also stated that BUSD withdrawals will be disabled on Dec. 31, 2023. Users are recommended to withdraw or convert their BUSD tokens to other available assets on Binance, such as FDUSD, by Dec. 15.

Except for users in Japan, France, Italy, Poland and Kazakhstan, all remaining BUSD balances in Binance accounts will be converted to FDUSD at a 1:1 conversion rate by Dec. 31.

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Tomiwabold Olajide