Binance US Zero BTC Trading Fees, Tether Launches British Pound Stablecoin, Cardano Launches Light Wallet

Written by Lindi Miti

June 23, 2022

Binance US Zero BTC Trading Fees

Binance US announced they are cutting spot trading fees for four bitcoin pairs. The cryptocurrency exchange will charge zero fees for buying and selling bitcoin. “As recession fears mount and inflation costs increase, we believe in offering greater cost savings on Bitcoin and value to everyone in the crypto ecosystem,” said Brian Shroder, CEO of Binance U.S.

In addition, Binance U.S. aims to lead the way in low-fee cryptocurrency exchanges in the U.S. The company hopes to increase accessibility. 

Earlier this year, Binance U.S. raised $200 million in a funding round led by Fundamental Labs, a blockchain investment firm. “The fundraising enables us to accelerate our expansion, add new product offerings and begin to market for the first time,” said Shroder.

Tether Launches British Pound Stablecoin

Tether, the largest stablecoin issuer, will launch a British Pound pegged stablecoin called GBPT. The stablecoin will launch next month on the Ethereum blockchain. “Tether is ready and willing to work with UK regulators to make this goal a reality and looks forward to the continued adoption of Tether stablecoins,” said CTO Paolo Ardoino.

GBPT is the fifth stablecoin launched by the company. Tether also has U.S. dollar-pegged USDT, euro-pegged EURT, Chinese Yuan pegged CHNT, and Mexican peso pegged MXNT. 

At the moment, stablecoins are under scrutiny from regulators because of the Terra Luna catastrophe. However, the United Kingdom government plans to become a ‘global crypto-asset technology hub. “It’s my ambition to make the UK a global hub for crypto-asset technology, and the measures we’ve outlined today will help to ensure firms can invest, innovate and scale up in this country,” said Rishi Sunak, the UK’s Chancellor of the Exchequer.

Cardano Launches Light Wallet

Cardano will launch a new light wallet called Lace. Lace will have user-friendly features and intuitive functionality. The wallet will allow users to manage, control, and store their cryptos in one place. Lace is currently under development. 

Input-Output Global, a research and development company behind Cardano, developed Lace. Lace will coexist alongside Cardano’s full node wallet called Daedalus. Daedalus caters to tech-savvy users and requires a lot of resources to operate.

Finally, Lace will initially support the Cardano blockchain. In the future, the wallet plans to expand to support other blockchains. 

Written by Lindi Miti © Crypto University 2022

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