- Binance announced 0% trading fee for BTC/TUSD trading pair on its cryptocurrency exchange.
- When Paxos issued stablecoin BUSD faced regulatory crackdown Binance moved to TUSD, doubling the asset’s market cap overnight.
- True USD supply crossed $2 billion amid banking woes of stablecoins like USDC, Binance minted nearly $50 million TUSD over the weekend.
Binance USD (BUSD) , the stablecoin issued by Paxos, faced regulatory crackdown from US regulators. Since then the exchange has moved on to an alternative, True USD (TUSD). While Circle’s stablecoin USDC suffered a depeg and most assets lost their parity with the US Dollar, TUSD’s market capitalization nearly doubled since March 12.
Binance picks a new stablecoin for 0% trading fee, TUSD
The world’s largest cryptocurrency exchange by volume, Binance faced hurdles when its Paxos-issued stablecoin BUSD suffered a crackdown from US regulators. The exchange was quick to move on from BUSD to alternate stablecoins, offering market participants a wide variety of assets to pick from.
Following the news of Circle’s USDC de-peg and decline, the exchange halted USDC swaps and picked a new stablecoin to offer commission-free trading, True USD (TUSD).
Binance offers 0% fee on BTC/TUSD trading
The exchange minted nearly $50 million in TUSD over the weekend, nearly doubling the stablecoin’s market capitalization.
TUSD market cap nearly doubled over the weekend
Crypto Twitter reacts to CZ’s choice of TUSD
Analysts noted Binance’s move to offer 0% trading fee on BTC/TUSD trading pair. The pseudonymous analyst Tree_of_Alpha tweeted:
CZ said: "you don't want my stablecoin? I'll just take another one and use that instead."
— Tree of Alpha (@Tree_of_Alpha) March 15, 2023
USDT and BUSD pairs revert to normal fees, BTC/TUSD becomes the only pair with 0% fee.
Wouldn't be surprised to see TUSD mcap rocket in the next few months from that alone. pic.twitter.com/ycekIrilc5
The expert noted that CZ’s choice could make TUSD mainstream and multiply its market capitalization significantly.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Crypto Today: SHIB, Pi Network and DOGE emerge as top gainers as Bitcoin crosses $2T market cap
Bitcoin price hits $105,800, claiming the $2 trillion valuation milestone, after US and China confirmed a temporary trade agreement to lower tariffs. Shiba Inu, Pi Network and Dogecoin emerge as top gainers among the 20 main crypto assets.
Dogecoin price 40% surge tests crucial resistance amid easing trade tensions
Dogecoin (DOGE) rally gains bullish momentum to exchange hands at $0.25 at the time of writing on Monday. Since the tariff-triggered crash on April 7, the largest meme coin by market capitalization has edged higher on easing trade tensions.
Bitcoin Price Forecast: BTC edges closer to all-time high as US-China trade deal cheers markets
Bitcoin price stabilizes around $104,000 on Monday after rallying 10.44% the previous week. Risk-on gains traction as the US and China agree to major tariff reductions for 90 days.
Sui eyes new record high as network redefines AI, gaming and DeFi
Sui price tests above $4.00 for the first time since early February, upholding a broad-based bullish momentum. Sui is crafting a new ecosystem, redefining how builders and users interact with AI, Gaming and DeFi.
Bitcoin: BTC bulls aim for $105,000 after nearly 10% weekly gains
Bitcoin price stabilizes around $103,000 on Friday after rallying nearly 10% this week. Risk-on sentiment prevails as Trump announced a trade deal with the UK and ahead of the meeting with China this weekend.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.