Circle should have $1 after it was discovered that $3.3 billion was stuck in the failed US bank Silicon Valley Bank USDC The price dropped to $0.87.
After this development cryptocurrency exchange Binance has decided to list stablecoin pairs on its platform.
According to the statement made by the company, on the platform BNB/TUSD, BTC/TUSD, ETH/TUSD, TUSD/USDT, USDC/USDT, USDP/USDT trading pairs will be listed. The listing date of the said couples has been determined as 17:00 Turkish time today.
Binance has said that it will start new stablecoin research activities after BUSD mint transactions are stopped by the SEC. The opening of Bitcoin, Ethereum and BNB tokens for trading with TUSD drew attention at this point.
However, the addition of USDC, which left the 1 dollar stable, to spot transactions came after the latest events.
Binance Will Also Launch Discounts On Some Trading Pairs
In addition, Binance announced that some trading pair fees will be discounted.
“Binance will launch two campaigns for certain spot trading pairs. Effective from 17:00 on March 11, 2023, Turkey time, users can benefit from discounted trading fees on the following spot trading pairs: BNB/TUSD, BTC/TUSD, ETH/TUSD, TUSD/USDT, USDC/USDT And USDP/USDT.”
No commission fees will be charged on these trading pairs. Officials stated that this campaign will continue until further notice.
However, the platform has deprecated the automatic conversion feature for stablecoins:
“Effective as of 11.03.2023 02:30, 11.03.2023 05:53 and 11.03.2023 09:00 respectively, Binance has stopped BUSD Automatic Conversion for users to make new deposits in USDC, USDP and TUSD respectively/ and users will no longer be able to withdraw USDC, USDP or TUSD from their BUSD balances.”
*Not investment advice.
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