Binance Expands Offerings, Incorporates Wbeth as Collateral and Introduces New Trading Pairs
Investing.com | Editor Venkatesh Jartarkar
Published Oct 09, 2023 10:23AM ET
Binance, a leading player in the cryptocurrency market, has expanded its offerings by incorporating WBETH as a collateral asset. The exchange also introduced new trading pairs (BNB/FDUSD, SOL/FDUSD, XRP/FDUSD, WBETH/USDT, WBETH/ETH) on its Cross Margin and Isolated Margin platforms on Monday. The information was conveyed by Wu Blockchain (@WuBlockchain).
The introduction of these new trading pairs aligns with the trend of major players in the crypto market broadening their offerings to cater to a diverse range of investor preferences. Among these pairs, the XRP/FDUSD pair suggests a wider acceptance of XRP globally, signifying its growing influence in the digital currency sphere.
In addition to Binance's expansion, Deribit, another prominent cryptocurrency exchange, has announced plans to launch options trading on XRP from January next year. This move is part of Deribit's strategy to diversify trading opportunities for its users and expand its own range of offerings.
FDUSD is a stablecoin by FD121 Limited operating on Ethereum and BNB Chain networks. It is backed by cash or cash equivalents held by a custodian. The stability of FDUSD plays a pivotal role in its applications in cross-border remittances, payment solutions, and decentralized finance ecosystems. This inclusion in various trading pairs by Binance further validates its utility and acceptance in the wider cryptocurrency market.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Get The News You Want
Written By: Investing.com
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.