Binance Will List 8 Cryptocurrencies Today

TL;DR

• Binance is introducing six new spot trading pairs, such as ATOM/FDUSD, and enabling trading bots for NTRN/USDT and PENDLE/USDT. FDUSD trading pairs will have zero maker fees for an unspecified duration.
• Issued by First Digital Limited in Hong Kong, FDUSD is pegged 1:1 with the US dollar. Binance added the XRP/FDUSD pair recently.
• Binance removed multiple BUSD trading pairs, citing reasons like low liquidity. They will stop supporting BUSD by early 2024, advising users to shift their holdings before February of the coming year.

Binance Adds These Trading Pairs

The world’s largest cryptocurrency exchange – Binance – announced it will open trading for the following six spot trading pairs on October 19: ATOM/FDUSD, AVAX/FDUSD, BAND/TRY, BCH/FDUSD, LOOM/TRY and MATIC/FDUSD.

In addition, the company will allow Spot Grid and Spot DCA Trading Bots services for the NTRN/USDT and PENDLE/USDT trading pairs on the same day. 

Binance assured users that they will enjoy zero maker fees on FDUSD trading pairs “until further notice.” First Digital USD (FDUSD) is a stablecoin issued by the Hong Kong firm First Digital Limited and backed 1:1 with the greenback.

Binance’s upcoming listing spree involving the asset comes a month after it enabled the XRP/FDUSD trading pair on its platform.

The Delisting Efforts

Apart from allowing additional trading services, Binance has also removed certain pairs. Some of the affected ones included 1INCH/BUSD, AERGO/BUSD, ANKR/BUSD, DATA/BUSD, DIA/BUSD, LOKA/BUSD, LRC/BUSD, OM/BUSD, POLYX/BUSD, RARE/BUSD, SLP/BUSD, SUSHI/BUSD, THETA/BUSD and more. The exact reason behind the decision remained undisclosed, with the exchange stating:

“To protect users and maintain a high-quality trading market, Binance conducts periodic reviews of all listed spot trading pairs and may delist selected spot trading pairs due to multiple factors, such as poor liquidity and trading volume.”

It is worth mentioning that all the aforementioned were BUSD trading pairs. Binance had previously vowed to discontinue support for the stablecoin from the first quarter of 2024 and advised clients to convert their BUSD holdings to other assets before February next year.