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Binance has responded to user demand by launching a zero maker fee promotion for spot trading pairs involving Argentine Peso (ARS), Brazilian Real (BRL), and South African Rand (ZAR). This promotional offer is set to commence on September 8, 2023, at 00:00 (UTC).

Promotion Coverage

This zero maker fee promotion encompasses eight specific spot trading pairs on the Binance platform:

BTC/ARS (Bitcoin to Argentine Peso)

USDT/ARS (Tether to Argentine Peso)

BTC/BRL (Bitcoin to Brazilian Real)

ETH/BRL (Ethereum to Brazilian Real)

USDT/BRL (Tether to Brazilian Real)

BTC/ZAR (Bitcoin to South African Rand)

ETH/ZAR (Ethereum to South African Rand)

USDT/ZAR (Tether to South African Rand)

Promotion Duration

The zero maker fee promotion for ARS, BRL, and ZAR spot trading pairs will be in effect from September 8, 2023, at 00:00 (UTC) until further notice.

Important Notes

ARS, BRL, and ZAR are fiat currencies and do not represent digital assets or cryptocurrencies.

Following the conclusion of the promotional period, standard trading fees will be reinstated. For detailed fee information, users can refer to Binance’s spot trading fee structure.

Binance reserves the right to disqualify users from eligibility if any account is found to be involved in dishonest practices, including wash trading, illegal bulk registration of accounts, self-dealing, or market manipulation.

For comprehensive terms of use related to spot trading on Binance, users are encouraged to review the Spot Trading Terms of Use.

Conclusion

Binance’s move to introduce a zero maker fee promotion for ARS, BRL, and ZAR spot trading pairs reflects its commitment to meeting evolving user needs. This promotion is expected to attract traders interested in these currency pairs, contributing to the exchange’s ongoing market expansion.

Implementing zero fees can serve as a strategic measure to stimulate liquidity and bolster trading activity. According to Blockchain.News, Binance has recently unveiled a significant development, wherein users can now avail themselves of zero maker fees for FDUSD trading pairs, and this favorable condition will remain in effect “until further notice.”

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Today, the well-known cryptocurrency exchange OKEx officially announced establishing strategic partnership relations with CuboPay, a local payment processor with extensive experience and an excellent reputation in Brazil. Exchange users are now allowed to use Brazilian real (BRL) through PIX in exchange for Tether ($USDT) purchases.

PIX is an instant payment system created by the central bank of brazil in response to the competition for the use of cryptocurrencies in the country. PIX was officially launched in November last year; its instant payment system provides a 24-hour payment system with a speed capacity of 10 seconds via mobile apps, internet banking, and ATMs.

Roberto Campos Neto, President of the Central Bank of Brazil, believes in the function of PIX in response to new digital payment systems such as cryptocurrencies. He stated that before：

“PIX came from a need for people to have a payment instrument that is both cheap, fast, transparent and secure,”

Central banks worldwide are actively developing to advance their Central Bank Digital Currency (CBDC). The Central Bank of Brazil (BCB) has already joined this track and set up a research team dedicated to evaluating the benefits of launching a digital format of ‘Brazil real’ currency” last August.

BCB previously stated that the country has all the necessary implementations for a digital currency issuance to happen in 2022.

In addition to OKEx exchange embraces Brazil’s official payments system PIX, several other digital currency trading platforms integrate Brazil’s PIX instant payment system, including Crypto.com and LocalBitcoins for the upcoming CBDC.

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Bitcoin.News

Tag: BRL

Binance Introduces Zero Maker Fee for ARS, BRL and ZAR

OKEx Allows Traders to Purchase Tether through Brazilian Reals via PIX