While the world's largest cryptocurrency exchange Binance continues to list new cryptocurrencies, the latest listing news came for the first digital USD (FDUSD).
Binance stated in its post that it will list the first digital USD, First Digital USD (FDUSD).
“Binance will list the new stablecoin First Digital USD (FDUSD) and open trading for new spot trading pairs on 26.07.2023 at 08:00 UTC.
New spot trading pairs: BNB/FDUSD, FDUSD/BUSD and FDUSD/USDT.
Users can start depositing FDUSD now.
Withdrawals for FDUSD will begin on 27.07.2023 at 08:00 UTC.
FDUSD Listing Fee: 0 BNB.”
Due to the listing of FDUSD, Binance offers zero commission promotion for FDUSD trading pairs, stating that “During the FDUSD promotion period, all users will be entitled to zero maker fees on all FDUSD spot trading pairs as well as new FDUSD spot and margin trading pairs. Validity period is 26.07. It will start at 08:00 UTC 2023 and will continue until further notice.” said.
FDUSD is a 1:1 USD-backed stablecoin issued by First Digital Labs.
Reserves of FDUSD are held by First Digital Trust Limited, @FirstDigitalHQ, a qualified custodian and registered trust company headquartered in Hong Kong.
Learn more about it here 👇
— Binance (@binance) July 26, 2023
What is FDUSD?
FDUSD is a 1:1 USD-backed stablecoin launched by First Digital Trust, a Hong Kong-based digital asset custodian and currently only issued on Ethereum (ETH) and BNB chains.
FDUSD offers users a reliable digital currency that aims to reduce the impact of volatility in the cryptocurrency market, increase the efficiency of financial transactions by reducing transaction costs, and offer faster, safer transactions.
FDUSD is backed by high-quality reserves. At this point, FDUSD's reserve account is audited by independent third parties such as Prescient Assurance, whose certification reports will be made public each month.
*Not investment advice.
