Zero-maker fee promotion exclusively for stablecoin TUSD has been introduced by Binance in an effort to boost trading activity. The promotion, applicable to both spot and margin trading, will commence on June 30th.
Under this exciting promotion, all existing and new USD stablecoin pairs on Binance spot and margin markets will have zero trading fees. However, standard taker fees will continue to apply to these TUSD spot and margin trading pairs. This is to ensure a fair transaction environment.
Expansion of BUSD Zero Maker Fee Offer
Binance isn’t stopping there. Further, the exchange has decided to extend the BUSD zero-maker fee promotion for another six months until December 31st, 2023.
The zero-maker fees promotion encompass existing and new BUSD spot and margin trading pairs, with the exception of BTC/BUSD, BNB/BUSD, and ETH/BUSD. Similar to TUSD, standard taker fees will be applicable for BUSD spot and margin trading pairs.
Is TUSD Poised to Be the Next Tether Stablecoin?
The recent introduction of zero-maker fees for TUSD trading pairs may not come as a surprise, considering Binance’s regulatory challenges associated with its native BUSD stablecoin. In response to those issues, Binance embraced TUSD as a viable alternative.
TrueUSD halted the minting of its stablecoin through Prime Trust on June 10th. To address the demand, Binance minted approximately $1 billion worth of TUSD on the Tron network. This information is according to a report by Arkham Intelligence.
Currently, TUSD is supported on 12 public chains, including Ethereum, TRON, Avalanche, BSC, Fantom, and Polygon.
Despite differences in market capitalization and trading volume compared to USDT, TUSD has gained popularity, largely due to the support it receives from Binance. As the fifth-largest dollar-pegged stablecoin, TUSD is issued by crypto firm ArchBlock, previously known as TrustToken.
Regulatory Challenges Faced by Binance
Binance’s recent promotional announcement arrives at a time when the exchange is grappling with mounting regulatory scrutiny across several jurisdictions. Earlier this month, the US Securities and Exchange Commission (SEC) filed a lawsuit against Binance and its CEO, Changpeng Zhao.
Furthermore, Binance is currently under investigation in France for suspected involvement in money laundering activities. In response to these challenges, Binance withdrew its application to operate in the United Kingdom. Also, it has requested the termination of its registration with the securities regulator in Cyprus.
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