Binance, a leading crypto exchange, has initiated zero-fee trading for six FDUSD spot and margin trading pairs, including XRP and Dogecoin.
In a recent blog post, Binance announced the commencement of zero-fee trading for selected spot and margin pairs, notably DOGEFDUSD and XRPFDUSD, starting December 8 at 12:00 a.m. (UTC) until further notice. Users will enjoy fee-free trading on these pairs during this period, excluding their trading volume from VIP tier calculations and liquidity provider programs.
The move follows Binance’s earlier addition of DOGEFDUSD and XRPFDUSD to its trading pairs in September, coinciding with the introduction of FDUSD, a fiat-backed stablecoin by First Digital in June. This strategic shift marks Binance’s transition away from BUSD, its exchange-branded stablecoin, with incentives provided to traders as part of this shift.
As part of this transition, Binance will be delisting several BUSD trading pairs, including XRP and Dogecoin, between December 11-15 and ceasing full support for BUSD products. BUSD withdrawals will halt on December 31, 2023, with users advised to withdraw or convert their BUSD tokens to available assets like FDUSD by December 15. All remaining BUSD balances, except for users in specific countries, will automatically convert to FDUSD at a 1:1 rate by December 31.
