On March 29, Binance, one of the world’s largest cryptocurrency exchanges, announced that it would be opening trading for six new trading pairs: LDO/TUSD, MATIC/TUSD, OP/TUSD, SOL/TUSD, SSV/TUSD, and XRP/TUSD. These new trading pairs are expected to provide users with more opportunities to explore and utilize different cryptocurrencies on the platform.
To encourage more traders to try out these new trading pairs, Binance has implemented a zero maker fee policy on them until further notice. This incentive is expected to drive trading volumes and liquidity for these pairs.
However, the introduction of these new trading pairs is not the only change happening on Binance. The exchange has replaced its BUSD stablecoin with TUSD, which is controlled by Justin Sun, a controversial entrepreneur who was recently sued by the SEC.
Binance made this move after Paxos, the firm behind BUSD, announced that it would cease issuing new BUSD tokens due to directives from the New York Department of Financial Services. As a result, Binance has been working to replace its BUSD trading pairs with alternative stablecoins, with TUSD being one of them.
To ensure that its users’ assets remain safe in the long term, Binance has swapped out its BUSD holdings in the Secure Asset Fund for Users (SAFU) for TUSD and USDT. This change will not affect users, and the funds will continue to be stored in publicly verifiable addresses.
In conclusion, Binance’s introduction of new trading pairs and replacement of BUSD with TUSD reflects its commitment to providing its users with the best possible trading experience. With zero maker fees and new trading pairs, traders can explore and utilize different cryptocurrencies while being assured of the safety of their assets.