Cryptocurrency exchange Binance has recently announced the launch of a range of stablecoin trading pairs. It includes ETH/TUSD, TUSD/USDT, BTC/TUSD, USDC/USDT, BNB/TUSD, and USDP/USDT. In conjunction with the launch, Binance has also introduced related zero-fee activities to incentivize trading on these pairs.

However, the launch of these new trading pairs comes with some changes to the use of BUSD on the platform. Binance has stopped or will soon stop BUSD auto-conversion for new deposits of USDP, USDC, and TUSD. Users will no longer be able to withdraw USDC, USDP, or TUSD from their BUSD balances.

Binance Launches Promotions and Allows Manual Conversion of BUSD Balances

To facilitate the transition, Binance is allowing users to manually convert their BUSD account balance to USDC and USDP at a 1:1 ratio using the Binance Convert platform until March 18, 2023, at 6:00 UTC. Users who want to convert their Binance USD balances to TUSD at a 1:1 ratio can do it manually on the platform until further notice. It is important to note that manual conversion options only allow for conversions from BUSD to TUSD, USDC, or USDP. Binance will also be launching two promotions for specific spot trading pairs, including BNB/TUSD, ETH/TUSD, TUSD/USDT, BTC/TUSD, USDC/USDT, and USDP/USDT, to encourage trading. Users will be able to take advantage of reduced trading fees on these pairs. There will be no fees for making or taking trades on the BTC/TUSD trading platform pair during the promotion period.

Binance Launches Promotions to Encourage Trading Activity

However, it is important to note that during the promotion period, trading volume on the BTC/TUSD spot trading pair will not be included in the VIP-tier volume calculation or in the program for all liquidity providers. BNB discounts, referral rebates, and other adjustments will also not apply to the trading of the BTC/TUSD spot pair during the promotion period.

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In the second promotion, users will not be required to pay any trading fees when transacting in the spot trading pairs TUSD/USDT, USDC/USDT, and USDP/USDT. Like the first promotion, the trading volume on these pairs will not be included in the calculation used to determine VIP-tier status or in the program for all Liquidity Providers during the promotion period. BNB discounts, referral rebates, and other adjustments will not be applied to the USD stablecoin spot trading pairs that have been selected for this promotion.

After the promotion period is over, normal trading fees will apply. Despite the setback with BUSD, Binance is recovering quickly by introducing new trading pairs and promotions. It will encourage more trading activity on the platform.