Binance.US, the American arm of the major cryptocurrency exchange Binance, announced that it has added ethereum (ETH) to its free pricing model this week. In June, Binance.US introduced zero-fee trading on bitcoin (BTC) spot markets and is now extending the offer to another asset.
According to yesterday's press release, free ETH trading is already available and involves four crypto pairs: ETH/USDT, ETH/USDC, ETH/BUSD and ETH/USD. What is more, Binance.US decided to eliminate execution fees on every single ethereum buy or sell transaction.
"By eliminating fees first on BTC and now ETH, we are further cementing our position as the low fee leader in crypto, raising awareness for the high fees consumers are paying on other platforms, and helping to restore trust in the greater ecosystem. Now, more than ever, it is critical that platforms operate with users' interests first," Brian Shroder, the Chief Executive Officer and President of Binance.US, said.
"Over the course of the year, we have sought to thoughtfully grow our business with customer experience as our guidepost."
The exchange does not rule out that it will offer zero-fee trading on other major cryptocurrencies in the future. At the same time, it is consolidating its pricing Tiers I and II to just Tier I.
New Pricing Tiers
To date, Binance.US offered three asset-based pricing models: Tier 0 (free trading), Tier I and Tier II. From now on, the exchange is merging Tier I and II, lowering fees for less popular assets. The changes are set to take effect from January 2023. For trading up to $10,000 per month, commissions will range from 0.4% to 0.6% and will gradually decrease as volume increases. In addition, Binance.US offers an additional 25% discount on commission for all cryptocurrencies if clients use BNB to pay fees.
The US branch of the Binance exchange is constantly expanding its offering. In June, it unveiled a new staking platform, Binance.US Staking. At first, the service allowed only a short list of staking instruments, but now the number of tokens has increased to 20.
The cryptocurrency exchange is constantly expanding its global regulatory environment. It recently announced the acquisition of an entire stake in Sakura Exchange BitCoin (SEBC), a crypto platform from Tokyo regulated by the Japan Financial Services Agency (JFSA). Thanks to purchasing a Japan-regulated entity, Binance can provide authorized cryptocurrency services in the Land of the Rising Sun.
