Binance Boosts First Digital's Stablecoin With Zero Fees to Buy and Sell Bitcoin, Ether

The crypto exchange listed the Hong Kong-regulated First Digital's FDUSD stablecoin last week.

AccessTimeIconAug 3, 2023 at 3:54 p.m. UTC

Binance, the world's largest crypto exchange, will open trading in bitcoin (BTC) and ether (ETH) with First Digital's FDUSD stablecoin with zero fees beginning tomorrow, according to a blog post.

More specifically, all trading fees will be waived for BTC/FDUSD, and maker fees will be 0% on ETH/FDUSD until further notice as part of Binance's campaign.

The listing comes as Binance is aiming to diversify trading volumes between stablecoin pairs following this year's regulatory clampdown on Binance USD (BUSD), with New York state regulators forcing BUSD issuer Paxos to halt issuing the stablecoin in February.

Following that action, Binance promoted trading with TrueUSD (TUSD) by waiving fees. TUSD trading volume mushroomed since and its market capitalization grew to nearly $3 billion.

Binance listed FDUSD on July 26 with zero trading fees to convert the token to other stablecoins including USDT and TUSD, indicating that the promotion would include all existing and new FDUSD trading pairs.

The FDUSD stablecoin is issued by a registered trust owned by First Digital under Hong Kong's digital asset rules.

Edited by Stephen Alpher.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Krisztian  Sandor

Krisztian Sandor is a reporter on the U.S. markets team focusing on stablecoins and institutional investment. He holds BTC and ETH.