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XRP Gains New TUSD Trading Pair on Binance as Platform Replaces BUSD

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Tue, 28/03/2023 - 6:01
XRP Gains New TUSD Trading Pair on Binance as Platform Replaces BUSD
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Binance announced today that it will open trading for LDO/TUSD, MATIC/TUSD, OP/TUSD, SOL/TUSD, SSV/TUSD, and XRP/TUSD trading pairs on March 29 at 08:00 (UTC).

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Users will enjoy zero maker fees on them until further notice. This incentive is expected to encourage more traders to explore and utilize these new trading pairs.

TUSD, which has replaced Binance's BUSD stablecoin, is controlled by controversial entrepreneur Justin Sun, who has just been sued by the SEC.

This move comes after Paxos, the firm behind the BUSD stablecoin, stated on February 21st that it would cease issuing new BUSD tokens due to directives from the New York Department of Financial Services.

In response, Binance has been working to replace the BUSD trading pairs with alternative stablecoins.

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Binance recently swapped out its BUSD holdings in the Secure Asset Fund for Users (SAFU) for TUSD and USDT.

The decision was made to ensure that the assets in SAFU continue to protect users in the long term as the market capitalization of BUSD decreases over time.

Binance emphasized that this change will have no impact on users and the funds will continue to be stored in publicly verifiable addresses.

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