• Leading crypto exchange Binance expands its Zero-free trading option to Argentine, Brazilian, and South African Currencies. 
• The new development comes as the exchange battles regulatory pushback from the U.S. Securities and Exchange Commissions. 

Binance is attempting to make cryptocurrency trading easier than ever for its user base. The leading cryptocurrency exchange platform has announced a significant change to its fee structure. This makes it possible for a handful of countries can carry out trading without spending any amount on fees.

Per the announcement, Binance users will gain access to bitcoin (BTC), ether (ETH), and Tether’s USDT stablecoin trading, using the Argentine peso, Brazilian real, and South African rand. This form of trading will not cost users a single fee. However, this option is only open for users looking to trade on the spot market.

Spot trading is usually carried out in spot markets. These forms of trading are usually carried out on cryptocurrency exchanges, or via over-the-counter services, which involves direct trading between traders.

When trading on spot markets, traders have no access to leverage or margin trading. They are only given access to assets that they own.

Before this action, Binance opened its doors earlier this year to accommodate zero/free trading to off-shore stablecoins like TrueUSD (TUSD) and First Digital’s FDUSD earlier this year.

The move could go a long way for spot traders looking to gain direct access to the spot market ecosystem and take trading risks with their assets, without having to worry about fee charges.

Along with the new update comes an expansion of Binance’s trading pairs. The exchange is not holding back as it continues to widen its access by opening trading for newer pairs.

The crypto exchange has gone on to list newer trading pairs

In a recent announcement shared this Friday, Binance revealed that it will be opening trading for the DOGE/FDUSD, SOL/FDUSD, TOMO/TRY, UNFI/TRY and XRP/FDUSD trading pairs at 2023-09-07 08:00 (UTC).

It is worth noting that new tokens like TRY might be extremely volatile, compared to their other counterparts. Binance also reveals that trading pairs for FDUSD will require zero maker fees from traders. The announcement read:

TRY is a fiat currency and does not represent any other digital currencies. Users will enjoy zero maker fees on FDUSD trading pairs until further notice. Where any discrepancy arises between the translated versions and the original English version, the English version shall prevail.

Meanwhile, Binance continues its battle with the SEC. In the past months, the exchange has been hit with legal battles in the United States, as well as Europe. As a result, cryptocurrency trading volumes have declined to levels last seen in 2019.

Regarding these constant setbacks, Binance seems to remain committed to maintaining its position as one of the most significant exchanges in the world.