First Digital USD (FDUSD), a multi-block, audited stablecoin pegged to the US dollar, is enhancing its availability on Binance (BNB), the largest cryptocurrency exchange by trading volume and number of users. Traders are welcome to deposit and withdraw FDUSD without paying any fees.
Solana's FDUSD is listed by Binance with a no-fee promotion
Binance (BNB), a dominant centralized cryptocurrency exchange, has shared details of its latest stablecoin listing to date. The Solana-based version of First Digital USD (FDUSD), a Hong Kong-regulated USD-pegged cryptocurrency, is now available to all Binancians.
Binance (BNB) has confirmed that the SOL-based FDUSD process has been fully completed: users can freely deposit and withdraw the stablecoin via the Solana (SOL) blockchain and use it in Binance (BNB) products.
To introduce the new stablecoin to the Binance (BNB) audience, the exchange is running a no-fee promotion for FDUSD. Until April 16, 2025, 11:59 PM UTC, all deposits and withdrawals will be charged with no platform fees.
As Binance (BNB) targets regulatory compliance, it has indicated that users in the European Economic Area are ineligible to promote and use unauthorized stablecoins under the new MiCA regulatory framework for digital assets.
As previously covered by U.Today, Binance (BNB) has already expanded its stablecoin offerings this year. On January 10, spot trading began in the pairs PHA/USDC, PLN/USDC, STEEM/USDC, and USUAL/USDC.
Tether unveils cross-chain USDT alternative: details
Despite growing regulatory hostility, competition in the stablecoin sector has gained momentum in recent months. Tether, the issuer of the largest ever stablecoin USDT, this week announced its new development called USDT0, a cross-chain stablecoin issued on Kraken's L2 Ink.
USDT0 is set up to integrate the benefits of LayerZero's Omnichain Fungible Token standard and OP Stack, Optimism's development framework. Simply put, USDT0 simplifies operations with cryptocurrency liquidity on multiple blockchains.
Also, Ripple, an American fintech giant, launched its long-awaited stablecoin Ripple USD (RLUSD) on XRP Ledger and Ethereum (ETH) on December 17, 2024.
As of press time, RLUSD's market capitalization exceeds $74 million.
Source link