An Obscure Stablecoin Is at the Center of Binance Reclamation Efforts
- TrueUSD’s $3.1 billion value makes it fifth-largest stablecoin
- Binance to introduce incentives that may spike demand further
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As Binance Holdings Ltd. comes under fire from regulators and industry participants, a relatively obscure stablecoin is playing a key role in the largest crypto exchange’s push to move past its recent turmoil.
TrueUSD, also known as TUSD, is the only stablecoin not branded by the world’s largest exchange where traders don’t have to pay a fee when swapping between cryptocurrencies on Binance’s trading platform. Presently only offered for Bitcoin, all trading pairs involving TrueUSD will benefit from zero maker fees from June 30, Binance said in a statement on Wednesday.