- Binance has recently introduced new trading pairs and unveiled surprising listings.
- FDUSD has seen its market cap rise significantly, setting it apart from industry giants.
- Binance has taken a bold stance regarding the SEC’s classification of assets.
The world’s largest cryptocurrency exchange, Binance, made a significant announcement on Wednesday. They revealed the introduction of new trading pairs and trading bot services on Binance Spot. Among the notable cryptocurrencies listed are Polygon (MATIC), Bitcoin Cash (BCH), Avalanche (AVAX), and Cosmos (ATOM), all paired with the FDUSD stablecoin.
Binance Expands FDUSD and Turkish Lira Crypto Trading Pairs
In an official statement issued on October 18, Binance disclosed that they are expanding the range of crypto trading pairs involving the FDUSD stablecoin and the Turkish lira, all of which will be available from October 19 at 08:00 UTC.
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Moreover, Binance is set to introduce two new services, Spot Grid and Spot DCA Trading Bots, catering to NTRN/USDT and PENDLE/USDT trading pairs. Users will have access to these services starting October 19 at 08:00 UTC.
The decision to bolster support for the FDUSD stablecoin comes in the wake of concerns raised by the crypto community regarding the TUSD stablecoin. One enticing aspect for users is that they will enjoy zero maker fees on FDUSD trading pairs. Furthermore, Binance’s customers will now experience zero maker and taker fees on the FDUSD/BUSD and FDUSD/USDT spot and margin trading pairs.
Binance’s Backing Propels FDUSD to $467 Million Market Cap
As of now, FDUSD boasts a market capitalization of $467 million, contrasting with Tether USDT’s massive market cap of $83.72 billion. The growing support from Binance has contributed to the ongoing rise of FDUSD’s market cap.
Despite ongoing disputes and regulatory challenges, Binance remains committed to listing cryptocurrencies such as MATIC and ATOM, both of which have been classified as securities by the U.S. Securities and Exchange Commission.
On the Flipside
- Questions about the stability and legitimacy of FDUSD and how it competes with more established stablecoins like USDT continue to circulate.
- While Binance continues its crypto listing spree, it’s essential to note that its approach has raised eyebrows in the regulatory landscape.
Why This Matters
The addition of new trading pairs and trading bot services by Binance and the continued support for FDUSD stablecoin underscores the exchange’s commitment to adapt and thrive in the evolving crypto landscape. This move not only broadens the choices for traders but also reflects Binance’s response to community concerns.
To learn more about the recent developments in Binance US freezing direct USD withdrawals, read here:
Binance.US Freezes Direct USD Withdrawals in New User Terms
For insights into Binance suspending operations in the UK due to regulatory changes, click here:
Binance Suspends Operations in UK Amidst Regulatory Shift
