Breaking News: Binance Exchange lists New Stablecoin - Digital USD (FDUSD)

Binance, largest cryptocurrency exchange, has announced it's listing of the new stablecoin First Digital USD (FDUSD) at 2023-07-26 08:00 (UTC). The listing comes with spot trading pairs: BNB/FDUSD, FDUSD/BUSD and FDUSD/USDT, for open trading. Users can now start depositing FDUSD with 0 BNB listing fee. Withdrawals for FDUSD will open at 2023-07-27 08:00 (UTC) Source.

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Binance is celebrating this listing with a zero maker fee promotion for FDUSD trading pairs. It means that during the promotion period, all users will be eligible to enjoy zero maker fees on all FDUSD spot trading pairs, as well as any new FDUSD spot and margin trading pairs. This fee promotion would start at 2023-07-26 08:00 (UTC) until further notice.

Binance has also promised to add FDUSD to the zero trading fee promotion for USD stablecoin pairs. Trading FDUSD/BUSD and FDUSD/USDT spot and margin trading pairs during the promotion period, will afford users enjoy zero maker and taker fees. Validity Period starts at 2023-07-26 08:00 (UTC) until further notice.

What is Digital USD (FDUSD)

FDUSD issued by First Digital Group is a 1:1 USD-backed Stablecoin. FDUSD is said to be 1:1 backed with high-quality cash and cash equivalent reserves, which are held in segregated accounts in regulated financial institutions and are monitored and audited by independent third parties. It therefore implies that users can redeem FDUSD 1:1 for equal value in U.S.

First Digital Group, which includes First Digital Trust, is one of Asia's leading qualified custodians and a registered trust company headquartered in Hong Kong. First Digital USD (FDUSD) is issued under the entity FD121, and is premiered on Binance, the world's largest cryptocurrency exchange by volume.

FDUSD is an attempt to revolutionize global finance with a cutting-edge digital stablecoin, with the goal to providing businesses and builders with security, speed, and innovation worldwide. The issuance of the stablecoin is fully programmable. Indeed, to fast track the adoption of cryptocurrencies, there is need for more stablecoins to be created and utilized. First Digital Group has promised to to provide a safe and reliable alternative that brings peace of mind, making a positive impact in the world of finance.

When Hive Dollars (HBD)?

A valid question we keep asking is when Binance would list the oldest algo-stable coin minted on the Hive blockchain. The Hive Backed Dollar (HBD) is a stablecoin that is resident on the base layer of the Hive blockchain. It is categorized as an algorithmic stablecoin in that it does not keep a reserve like many other tokens in this category. Instead, each HBD is can be converted into $1 worth of HIVE.

Saving HBD pays 20% APY, the highest ever obtainable for cryptocurrencies in its category. Unlike other stablecoins, HBD can be earned through social activities and this provides a level playing ground for everyone who ever wants to have a stablecoin in his/her portfolio.

Many say we've not had enough marketing but I think, we're just lagging with adding more use cases for our precious Hive Dollars. The ecommerce industry is still very open for more integration of stablecoins. Thanks to Sucre Venezuela that has shown the possibility of utilizing HBD in day to day commercial activities.

I am certain that ignoring HBD would not be for long. Can't wait to see HBD listed on top exchanges like Binance.

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