Binance – the world’s largest cryptocurrency exchange – is expanding trading support for Ripple’s XRP. However, there’s more to that than meets the eye, so let’s dive in.
- In its most recent announcement, Binance revealed that it is adding one more trading pair for Ripple’s XRP – XRP/FDUSD.
- This came along with the addition of multiple pairs for ious cryptocurrencies.
Binance will open trading for the DOGE/FDUSD, SOL/FDUSD, TOMO/TRY, UNFI/TRY, and XRP/FDUSD trading pairs at 2023-0907 08:00 (UTC).
- Right off the bat, users will be able to trade without paying for trading fees until there’s further notice of it.
- But it’s also important to understand what FDUSD is.
- It’s a reserve-backed stablecoin that’s issued by a subsidiary of a Hong Kong-based financial firm called First Digital Limited (hence the FD in the name).
- The cryptocurrency was launched back in June 2023 on Ethereum and on the BNB Chain. There are plans for it to be issued on other networks as well.
- One of the specifics is that FDUSD provides an “attestation of reserve” report.
- The document is audited by independent specialists in a bid to attest to FDUSD’s complete backing and equivalent value.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
