- Binance has debuted zero fee trading for EUR/USDC and EUR/USDT trading pairs.
- The promotion period started on September 9 and will end on December 12.
- Only the VIP 2 – 9 users and spot liquidity providers will enjoy zero maker and taker fees.
Binance, the world’s leading cryptocurrency exchange, has introduced zero-fee trading for VIP 2-9 users and spot liquidity providers on EUR/USDC and EUR/USDT spot trading pairs. This move aims to boost EUR trading volume on the platform and attract more users.
The announcement made on September 9 is part of Binance’s ongoing effort to provide competitive services and maximize value for its users.
The zero-fee trading period begins September 16 at 00:00 (UTC) and will continue until December 16 at 00:00 (UTC). While VIP 2-9 users and spot liquidity providers enjoy zero maker and taker fees on these specific EUR trading pairs, standard fees apply to regular and VIP 1 users. Binance explained while adding:
“Standard fees will apply to regular and VIP 1 users and the trading volume of the aforementioned spot pairs will count toward regular and VIP 1 users’ VIP tier volume calculation.”
Additionally, the leading crypto exchange warned that any account associated with behavior that violates its policies will be disqualified from the zero fee promotion. These violations include wash trading, market manipulation, among other things.
Read also: Binance CEO Reveals CZ’s Lifetime Ban: A Major Blow
Binance’s Focus on EUR Volume
In July, Binance announced a similar promotion, and it is clear that the exchange is focused on boosting EUR volumes, taking advantage of stablecoins becoming MiCA compliant in the European Economic Area (EEA). The exchange debuted the zero fee promotion for the EUR/USDC from 3rd July to 2nd August.
In July, the issuer of USDC, Circle, became the first major stablecoin issuer to receive approval to issue USDC as a MiCA-compliant e-money token (EMT) as the crypto industry celebrated a major step forward in the adoption of stablecoins. However, Tether, the issuer of USDT, remains the largest stablecoin issuer by market cap.
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Source: https://coinedition.com/binance-zero-fees-a-boost-for-eur-trading-or-a-competitive-play/