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Binance Goes Zero Trading Fee On First Digital USD (FDUSD) Listing

Binance has listed First Digital Group’s FDUSD stablecoin and opened trading for new spot trading pairs with zero transaction fees.

To commemorate the launch, Binance offers a zero-maker fee promotion for FDUSD trading pairs. 

During the offer period, all customers will be eligible to receive zero maker charges on all FDUSD spot trading pairs and any new FDUSD spot and margin trading pairs.

A 1:1 guarantee for the FDUSD is provided by high-quality cash and cash equivalent reserves maintained in segregated accounts in licensed financial institutions and managed and audited by independent third parties.

The FDUSD’s purpose is to be exchangeable 1:1 for US dollars of equivalent value.

In an era of growing uncertainty and volatility, the US dollar-pegged stablecoin provides diversification and greater stability against the effects of central bank policy.

Additionally, according to Binance’s announcement, FDUSD is backed by high-quality reserves (cash and cash equivalents),

meaning users can trade their FDUSD tokens for US dollars or their equivalent in other currencies.

Users may rely on FDUSD to be fixed at a 1:1 ratio to the US dollar at all times.

This shows First Digital’s dedication to conducting business securely and transparently, strengthening users’ confidence in the stability of the stablecoin.

According to data, there are currently only 10.11 million FDUSD in circulation, and nearly all of those (more than 99.9%) are kept in Binance wallet addresses.

FDUSD is now supported on Ethereum and BNB Chain, with support for additional blockchains on the horizon.

how does FDUSD differ from other stablecoins

First Digital Group, which includes First Digital Trust, a registered trust company with its headquarters in Hong Kong,

gained a lot of attention when it first announced its First Digital USD (FDUSD) US dollar-pegged stablecoin the last month.

FDUSD is a stablecoin that is backed by the US dollar at a 1:1 ratio, similar to other commonly used stablecoins such as USDC, USDT, and BUSD.

The primary difference between FDUSD and other stablecoins is that it is issued by First Digital Group,

whereas other stablecoins are issued by different companies.

FDUSD is underpinned by the principle of transparency, and its value is tethered to the US dollar,

which means that every FDUSD token is backed by a corresponding US dollar held in reserve.

This ensures that FDUSD is fully collateralized and that its value remains stable.

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