Binance Introduces Zero Maker Fees for TUSD Trading Pairs – The Next Tether Stablecoin?
Crypto exchange giant Binance has announced a new zero-maker fee promotion for stablecoin TUSD. Starting from 30th June, the promotional offer covers both spot and margin trading for TrueUSD.
The zero trading fee promotion for USD stablecoin applies to all existing and new USD stablecoin pairs on Binance spot and margin markets, as per the announcement.
However, the standard taker fees on these TUSD spot and margin trading pairs will apply as usual.
Maker and taker fees offer a transaction rebate to traders who provide liquidity to the market (maker) while charging traders who get that liquidity (taker).
Binance also announced that it is extending the BUSD zero maker fee promotion for another six months to 31st December 2023.
This promotion covers existing and new BUSD spot and margin trading pairs, except for BTC/BUSD, BNB/BUSD and ETH/BUSD. Standard taker fees will also apply on these BUSD spot and margin trading pairs.
As per the latest announcement, the promotion does not apply to BUSD-margined futures contracts on the crypto exchange.
The latest promotional offer on TUSD trading pairs does not come as a complete surprise. Binance adopted TUSD after facing regulatory issues relating to its native BUSD stablecoin.
On June 10, TrueUSD halted the minting of the stablecoin through Prime Trust.
Binance minted around $1 billion TUSD on the Tron network, Arkham Intelligence reported.
Currently, TUSD is live on 12 public chains, including Ethereum, TRON, Avalanche, BSC, Fantom, and Polygon.
Despite a significant difference in market cap and trading volume, with TUSD having a market cap of $3.1 billion compared to USDT's $83.1 billion, TrueUSD has experienced a surge in popularity, thanks to support from Binance.
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