Its trading pairs constituted 38% of Binance’s total spot trading volume on February 12. This is equivalent to 42.6% more than last month.

The Block’s Senior Research Analyst Rebecca Stevens stated, “You would expect FDUSD to gain some popularity on Binance due to BTC/FDUSD transactions being free and most FDUSD pairs having no maker fee.”

“The official end of support for BUSD on the exchange may have motivated some users to convert to the new stablecoin.” she added.

First Digital, a trust company based in Hong Kong, and its subsidiary FD121, launched FDUSD in June 2023. Binance listed it a month later and offered zero trading fee for it.

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