Binance Launches Fee-Free Stablecoin, Halts Trading Temporarily for Technical Fixes”

Binance announced a promotion ahead of the scheduled launch of the stablecoin FDUSD, offering zero maker fees for all FDUSD trading pairs. 

However, the listing, which was supposed to hold on July 26, 2023, at 08:00 (UTC), has been rescheduled for 14:00 (UTC) on the same day on Binance. The postponement is attributed to technical issues. 

To ensure user protection, Binance will stop trading for FDUSD on July 26, 2023, at 09:45 (UTC) and cancel all pending FDUSD orders. The stablecoin, launched by First Digital Group and backed by cash and cash equivalents held in regulated financial institutions, is designed to maintain a 1:1 value with the U.S. dollar with regular audits from the reserves.

First Digital Trust, a subsidiary of First Digital Group based in Hong Kong, announced FDUSD’s debut and listing on Binance on July 26, 2023. The FDUSD is a programmable digital asset and enables interaction with financial smart contracts and insurance without intermediaries. Its compatibility with Web3 technologies also opens possibilities for future solutions and integration with everyday transactions.

During the promotional period, all users can benefit from zero maker fees on existing FDUSD spot trading pairs and any new FDUSD spot and margin trading pairs on Binance to celebrate the stablecoin’s launch.

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