The First Digital USD (FDUSD), a stablecoin linked to the US dollar that has undergone multi-blockchain audits, is now more accessible on Binance (BNB), the crypto exchange with the highest trading volume and user base. This means traders can now deposit and withdraw FDUSD without incurring any fees.
Solana’s FDUSD listed by Binance with zero-fee promo
Through a recent announcement, the prominent centralized cryptocurrency exchange, Binance (BNB), has disclosed the addition of a new stablecoin to its platform. The Solana-backed version of First Digital USD (FDUSD), a Hong Kong-regulated digital currency tied to the US dollar, is now accessible for all Binance users.
Binance has started working with First Digital USD (FDUSD) on the Solana Network, offering zero-cost deposit and withdrawal transactions! For more details, click here. 🔄
— Binance (@binance) January 18, 2025
On Binance (BNB), they confirmed that the conversion of SOL to FDUSD has been fully executed. Now, users have the liberty to deposit and withdraw the stablecoin using the Solana (SOL) blockchain. They can also utilize this stablecoin within Binance’s (BNB) various products.
To attract the Binance (BNB) community to the new stablecoin called FDUSD, they’re launching a promotional offer where there are no platform charges for deposits or withdrawals. This special offer lasts until April 16, 2025, at 11:59 p.m. UTC.
In an effort to adhere to regulations, Binance (BNB) has determined that users residing in the European Economic Area (EEA) are ineligible for promotions and cannot use unauthorized stablecoins under the newly established MiCA regulatory framework for digital assets.
Previously reported by U.Today, Binance (BNB) has broadened its range of stablecoin offerings this year. On January 10, trading in the pairs PHA/USD-C, PLN/USD-C, STEEM/USDC, and USUAL/USDC became available for spot trading.
Tether unveils USDT cross-chain alternative: Details
In spite of growing regulatory opposition, there has been a surge in competition within the stablecoin market over the past few months. This week, Tether, the company behind the largest stablecoin USDT, unveiled a new project called USDT0. This is a multi-chain stablecoin that will be issued on Kraken’s L2 Ink platform.
Presenting Tether USDT0 (@Tether_to) – A game-changer that has significantly restructured global economies, and within a short span of over a decade, it has emerged as the world’s largest stable asset with a staggering market cap of nearly $140B. Its role in fulfilling the initial promise of cryptocurrency by banking the underbanked and offering crucial financial services has been pivotal.
— USDT0 (@USDT0_to) January 16, 2025
USDT0 is poised to combine the advantages of LayerZero’s Cross-Chain Fungible Token protocol and OP Stack, Optimism’s development platform. In simpler terms, USDT0 simplifies cross-chain crypto liquidity management.
On December 17, 2024, the well-known U.S. fintech company, Ripple, unveiled its eagerly awaited stablecoin, Ripple USD (RLUSD), on both the XRP Ledger and Ethereum blockchain network.
As of press time, RLUSD capitalization exceeds $74 million in equivalent.
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2025-01-18 14:25