Binance, a leading player in the cryptocurrency market, has expanded its offerings by incorporating WBETH as a collateral asset. The exchange also introduced new trading pairs (BNB/FDUSD, SOL/FDUSD, XRP/FDUSD, WBETH/USDT, ) on its Cross Margin and Isolated Margin platforms on Monday. The information was conveyed by Wu Blockchain (@WuBlockchain).
The introduction of these new trading pairs aligns with the trend of major players in the crypto market broadening their offerings to cater to a diverse range of investor preferences. Among these pairs, the XRP/FDUSD pair suggests a wider acceptance of globally, signifying its growing influence in the digital currency sphere.
In addition to Binance’s expansion, Deribit, another prominent cryptocurrency exchange, has announced plans to launch options trading on XRP from January next year. This move is part of Deribit’s strategy to diversify trading opportunities for its users and expand its own range of offerings.
FDUSD is a stablecoin by FD121 Limited operating on and BNB Chain networks. It is backed by cash or cash equivalents held by a custodian. The stability of FDUSD plays a pivotal role in its applications in cross-border remittances, payment solutions, and decentralized finance ecosystems. This inclusion in various trading pairs by Binance further validates its utility and acceptance in the wider cryptocurrency market.
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