Leading cryptocurrency exchange Binance has announced that it will list the new stablecoin, First Digital USD (FDUSD), and open trading for new spot trading pairs following the listing. To celebrate the launch, Binance has also announced a zero market maker fee promotion for FDUSD. This means that no commission fees will be charged for trading pairs opened after the FDUSD listing.
Listing Today at 11:00
Binance, the world's largest cryptocurrency exchange by trading volume, recently announced that it would list the stablecoin FDUSD today at 11:00. The listing will include trading pairs such as BNB/FDUSD, FDUSD/BUSD, and FDUSD/USDT. Prior to the listing, users can start depositing FDUSD, while withdrawals will be available starting from July 27th at 11:00.
To celebrate the listing, Binance has also announced a zero market maker fee promotion for FDUSD. During the promotional period, no commission fees will be charged for trading pairs involving FDUSD on both the spot and margin markets.
What is First Digital USD (FDUSD)?
First Digital USD (FDUSD) is a stablecoin issued by FD121 Limited under the brand First Digital Labs. It is a 1:1 USD-backed stablecoin that aims to reduce the impact of volatility in the cryptocurrency market, lower transaction fees, and increase the efficiency of financial transactions while providing faster and more secure transactions.
FDUSD stands out as a programmable stablecoin that enables the execution of financial transactions without intermediaries. It is claimed that the stablecoin is backed by high-quality reserves in cash and cash equivalents. Users can use FDUSD tokens for their equivalent values in USD. The reserve account of FDUSD is audited by independent third parties such as Prescient Assurance, and audit reports will be publicly shared every month. Users can access the latest reserve information on the official website of First Digital Labs.
FDUSD is currently deployed on the Ethereum and BNB Chain, with plans for support on a growing number of blockchain networks.