Binance drew market attention Wednesday by expanding support for StraitsX USD (XUSD) and Four (FORM), adding them to its trade offerings.
On March 19, the cryptocurrency exchange Binance announced in an official press release that it will be including the assets described above into its ‘Simple Earn, Buy Crypto, Convert, Margin, Auto-Invest, and Futures trading’ sections.
Beginning on the announcement date of 08:00 UTC, the massive user base of the site is anticipating the listing of XUSD and FORM on the platform known as “Simple Earn.”
To further emphasize the breadth of the CEX’s services, customers can purchase these assets using various payment methods, including Visa, MasterCard, Google Pay, Apple Pay, and Revolut.
Also supported will be trading against Bitcoin, USDT, and other cryptocurrencies supported in the ‘Convert’ division at no fees within one hour of the currency’s spot listing. Such trading will be possible within the same time frame.
Earlier this week, the leading cryptocurrency exchange made a public notice informing the public that the StraitsX listing will take place at 08:00 UTC on the date presented above.’ Cross and Isolated Margin’ will see the addition of a new borrowable asset, which will be the FORM/USDT cryptocurrency pair.
The aforementioned day, at 8:20 UTC, will mark the beginning of this offering. Additionally, the futures trading for FORMUSDT will start at 08:00 UTC later today. Traders have the opportunity to take advantage of leverage of up to fifty times on the USD-margined futures contract that the exchange facilitates for the cryptocurrency.
The Monetary Authority of Singapore (MAS) is a key supporter of StraitsX, which is a prominent stablecoin provider. XUSD is a stablecoin that is based on the Ethereum and Binance Smart Chain blockchains. It is dependent on the value of the United States dollar.
There were a total of 26.35 million tokens available for use with the stablecoin at the time of publication. Reserve assets that are kept at a level that is greater than or equal to one hundred percent of the amount in circulation are used to back each XUSD.
During the previous twenty-four hours, the price of FORM has increased by almost two percent and has been trading at $1.79. During the course of the day, the coin reached a low of $1.54 and a high of $1.80, respectively. We would like to bring to your attention the fact that Four is a rebranded and token-swapped version of BinaryX (BNX).
In general, the CEX continues to solidify its position at the top of the global rankings by providing traders with excellent services. Binance had also revealed support for MKR, EPIC, DF, GMX, and RPL, which is an intriguing development that adds to the company’s generally hopeful market initiatives.
