Binance lists StraitsX USD (XUSD token)
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According to the announcement from Binance, the exchange will list StraitsX USD (XUSD) and open trading for the XUSD/USDT pair at 15:00 on March 19. Users can start depositing XUSD to prepare for trading, with a listing fee of 0 BNB.
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The XUSD withdrawal feature will be available from 15:00 on March 20. The launch of XUSD on Binance promises to bring a new breeze to the stablecoin market, which is fiercely competitive among projects like USDT, USDC, and TUSD.
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To celebrate the event, Binance is launching the “XUSD Zero Fee Promotion” program. During the promotional period, starting from 15:00 on March 19 and lasting until further notice, all eligible users will enjoy 0 trading fees for the XUSD/USDT pair.
⭐️ This is a great opportunity for investors to experience the new stablecoin without worrying about costs, while also increasing liquidity for XUSD on the Binance platform.
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XUSD is a stablecoin issued by StraitsX, a major payment organization licensed by the Monetary Authority of Singapore (MAS). Pegged at a 1:1 ratio with USD, XUSD ensures stability thanks to highly liquid reserve assets, which can always be exchanged for USD at a 1:1 rate.
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The stablecoin leverages smart contracts to connect the traditional and digital financial ecosystems, facilitating almost instant transactions.
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After Binance's announcement, the trading volume of XUSD surged, recording over 12,000% in the past 24 hours. The market capitalization of the stablecoin currently stands at 28.95 million USD. The price of XUSD moved slightly from 0.999 USD to 1.03 USD.