On March 22, Binance announced that it would switch its zero-fee Bitcoin (BTC) trading from Binance USD (BUSD) to TrueUSD (TUSD).
Binance exchange staid in a statement dated March 15 that the zero maker fee for BUSD would also apply to its pair with other assets like BNB and Ethereum.
It further stated that typical trading costs would also be applicable to all of its BTC trading pairs, including the USDT pair for Tether and a number of other fiat currencies, such as the British Pound, Australian Dollar, and Euro.
BTC/TUSD spot trading pairs, on the other hand, would now pay no maker or taker costs. When questioned about the scope of the new policy, Changpeng ‘CZ’ Zhao, CEO of Binance, explained that:
“0 fee will stop on BUSD in about a week.”
13 Bitcoin spot trading pairs on Binance now provide zero-fee trading starting in 2022. Since then, the exchange has experienced a boom in spot volumes, which, as of February, accounted for 62% of all trading in the sector.
Changpeng “CZ” Zhao, CEO of Binance, claimed that recent developments in the cryptocurrency world had an influence on the company’s choice.
New York banking regulators ordered BUSD’s issuer Paxos to halt more stablecoin mints in February. The U.S. financial regulators have also taken control of a number of banks that support cryptocurrencies in order to reduce the risk they offer to the larger banking sector.
TUSD, meanwhile, experienced tremendous growth during this time. The stablecoin’s circulating supply recently surpassed the 2 billion mark, and acceptance has remained strong.