On April 28 at 8:00 a.m. (UTC), Binance, a well-known cryptocurrency exchange, will launch a new trading pair for Dogecoin (DOGE) versus TrueUSD (TUSD). With almost 20% of all DOGE trades occurring in this pair, USDT on Binance now has the most liquidity for DOGE. The next-largest pair on Binance is BUSD vs. BUSD, however this will probably change once the new DOGE/TUSD trading pair is revealed.
Chain B&N. Since that time, the percentage of BTC traded in pairings with TUSD on the exchange has significantly increased. Zero fees on BTC trades in pairings with TUSD are a contributing factor in this growth. In less than a month, BTC/TUSD has surpassed BTC/USDT to become the biggest Bitcoin pair on the exchange, hitting 50% of the market for the first time last week.
After Paxos stopped trading BUSD owing to allegations from the SEC that the Investor Protection Act had been broken, Binance decided to use TUSD. Comparatively, TUSD is “the first regulated stablecoin to be fully backed by the U.S. dollar,” according to the issuing business.
As TrueUSD asserts, TUSD works with financial institutions and cryptocurrency businesses to convert their coins into money. Additionally, it is the first stablecoin to include proof of reserves using Chainlink’s oracle to guarantee constantly enough collateral.
