Binance announced 0% trading fee for BTC/TUSD trading pair on its cryptocurrency exchange.
When Paxos issued stablecoin BUSD faced regulatory crackdown Binance moved to TUSD, doubling the asset’s market cap overnight.
True USD supply crossed $2 billion amid banking woes of stablecoins like USDC, Binance minted nearly $50 million TUSD over the weekend.
Binance USD (BUSD) , the stablecoin issued by Paxos, faced regulatory crackdown from US regulators. Since then the exchange has moved on to an alternative, True USD (TUSD). While Circle’s stablecoin USDC suffered a depeg and most assets lost their parity with the US Dollar, TUSD’s market capitalization nearly doubled since March 12.
The world’s largest cryptocurrency exchange by volume, Binance faced hurdles when its Paxos-issued stablecoin BUSD suffered a crackdown from US regulators. The exchange was quick to move on from BUSD to alternate stablecoins, offering market participants a wide variety of assets to pick from.
Following the news of Circle’s USDC de-peg and decline, the exchange halted USDC swaps and picked a new stablecoin to offer commission-free trading, True USD (TUSD).
The expert noted that CZ’s choice could make TUSD mainstream and multiply its market capitalization significantly.
