Following the launch of its new stablecoin First Digital USD (FDUSD), Binance announced two initiatives to drive adoption with zero-fee spot and margin trading for several token pairs, such as BNB, DOGE, LINK, ETH, SOL and XRP and the APR at
12% on the stablecoin.
According to a communication released in the last few hours, starting from December 8th Binance will make the "zero commission" promo available.
The move comes in tandem with the phasing out of support for Binance USD (BUSD), which will permanently end on December 15th.
For this reason, the exchange has invited users to convert all their BUSD to the new stablecoin by the end of the year.
After expiration, all amounts will be automatically converted to FDUSD.
The choice is clearly obligatory for Binance and derives from the regulatory issues that also affected Paxos, the issuer of BUSD. The latter has already suspended the issuance of the stablecoin some time after the SEC classified the token as a security and therefore outside the aegis of federal laws regulating financial assets.
FDUSD represents Binance's most valid alternative to compensate for the BUSD service, but being a new instrument it requires a big incentive to increase its use, which has been present on the exchange for less than a week.
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