- XUSD listed on Binance; zero-fee promotion launched.
- Immediate market response with a 3.5% price increase.
- Stablecoin’s enhanced liquidity expected to improve market accessibility.
The listing of StraitsX USD on Binance is set to enhance liquidity and access to US dollar-backed stablecoins. The zero-fee trading promotion has already sparked a price uptick among traders.
The announcement outlines important details about the listing. Trading will begin with the XUSD/USDT pair, and withdrawals are enabled on March 20, 2025. The zero-fee promotion applies to all XUSD trading pairs. StraitsX USD is issued by Singapore’s StraitsX, fully backed by reserves equal to the dollar. It aims to provide fast transaction solutions under the regulation of the Monetary Authority of Singapore.
Market reactions were immediate following Binance’s announcement. XUSD saw a substantial increase in value, reaching $1.03 at one point, a 3.5% rise. Its market cap stands at approximately $33 million. The listing promises increased accessibility and liquidity for users favoring US dollar-backed stablecoins. However, regulatory restrictions could constrain XUSD’s reach in some global markets.
The latest price data reveals XUSD currently trading at $1.03, reflecting changes between $0.99 and $1.05. Analysts note the pattern is consistent with previous trends seen in the stablecoin market. Cryptocurrency Expert Tom Brown from DeFi Planet commented, “This zero-fee promotion for XUSD trading is an attractive offer for users looking to enter the market.” Data and historical trends suggest that stablecoins will continue to play a significant role in crypto markets.
