A rival threatens to dethrone USDT on Binance
Binance's promotion of another stablecoin, replacing the defunct BUSD, makes it gain market share on the platform.
Binance, the world's largest cryptocurrency exchange, is undergoing changes to its stablecoin offering. In that context, a “threat” is emerging for the current leader, Tether USD (USDT).
First Digital USD (FDUSD), a stablecoin launched by the Hong Kong-based company First Digital, has managed to capture the attention of users due to the absence of commissions in the majority of the pairs with which it operates in the exchange.
This means that users can make transactions without incurring additional costs, unlike other cryptocurrencies or stablecoins that have fees associated with transactions.
Due to the advantages that FDUSD has on Binance, its growth has become evident. Trading pairs involving this currency represented 38% of the total spot trading volume on Binance, marking a 42% increase compared to the previous month, as seen in the following chart from The Block explorer.
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