StraitsX USD: The New Stablecoin on Binance with Zero Trading Fees

StraitsX USD (XUSD) Price Soars After Binance Listing – Is it the Next Big Thing?

StraitsX USD– On March 17, Binance announced that it will be listing StraitsX USD (XUSD) and opening trading for the XUSD/USDT spot trading pair on March 19 at 08:00 UTC. This new addition to the exchange follows a growing interest in stablecoins and digital currency trading.

Binance has also introduced an attractive offer for users by waiving trading fees for the XUSD/USDT Tether trading pair, as well as margin trading pairs, from the launch date onward. This initiative will continue indefinitely, allowing users to benefit from reduced transaction costs. XUSD withdrawals will be available starting on March 20 at 08:00 UTC.

XUSD Surges in Value Post-Announcement

Following Binance’s listing announcement, StraitsX USD, a USD-pegged stablecoin, saw a significant surge in its value. The price of XUSD spiked to $1.05, although its average trading value had typically hovered around $0.99 to $1.00. As of press time, the stablecoin was priced at $1.03, marking a 3.5% increase. XUSD’s market capitalization stands at nearly $33 million, with a trading volume of $3.3 million in the past 24 hours. Currently, there are 22.3 million XUSD tokens in circulation.

StraitsX USD, issued by the Singapore-based StraitsX, is a stablecoin pegged to the U.S. dollar on a 1:1 basis. Designed for quick transactions, XUSD supports cross-border remittances, DeFi applications, on-chain trading, and corporate treasury management. StraitsX, licensed by the Monetary Authority of Singapore, is also part of the Fazz ecosystem, which focuses on business banking in Southeast Asia. Alongside XUSD, StraitsX has also launched other stablecoins like XSGD (Singapore Dollar) and XIDR (Indonesian Rupiah).

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.