Altcoin
Binance Expands Support For StraitsX (XUSD) This Crypto, Here’s All
Cryptocurrency exchange giant Binance again captured substantial market attention with its latest update on StraitsX USD (XUSD) and Four (FORM) coins this Wednesday. The exchange announced that it is expanding market support for these assets by adding them to its stockpile of trade offerings ahead. In an upshot, traders and investors extensively eye these crypto to capitalize on emerging market opportunities.
Binance Reveals Market Support For XUSD & FORM
In an official Binance release on March 19, the crypto exchange outlined that it is adding the abovementioned assets to the ‘Simple Earn, Buy Crypto, Convert, Margin, Auto-Invest, and Futures trading’ divisions. The platform’s colossal user base is primed to witness XUSD and FORM listing on ‘Simple Earn’ starting the announcement date at 08:00 UTC.
Further, users can buy these assets via VISA, MasterCard, Google Pay, Apple Pay, and Revolut, underlining the CEX’s vast offerings. In addition, trading against BTC, USDT, and other cryptos supported on the ‘Convert’ division at zero fees within one hour of the coins’ spot listing will also be supported.
In an announcement earlier this week, the top crypto exchange notified that the StraitsX listing is at 08:00 UTC on the abovementioned date.
What’s More For Traders In The Binance Announcement?
FORM/USDT crypto pair will further be added as a new borrowable asset on ‘Cross and Isolated Margin.’ This offering will launch on the abovementioned date at 08:20 UTC.
Also, futures trading for FORMUSDT will commence at 08:00 UTC. Traders can enjoy up to 50x leverage on the crypto’s USD-Margined futures contract facilitated by the exchange.
More About The Cryptos
Notably, StraitsX is a major stablecoin provider backed by the MAS (Monetary Authority Of Singapore). XUSD is a stablecoin pegged to the U.S. Dollar and runs atop Ethereum and Binance Smart Chain blockchains.
As of press time, the total supply for the stablecoin was 26.35 million tokens. Each XUSD is backed by reserve assets maintained at more than or equal to 100% of the value in circulation.
FORM price gained nearly 2% in the past 24 hours and exchanged hands at $1.79. The coin hit an intraday low and high of $1.54 and $1.80, respectively. It’s worth pointing out that Four is a rebranded and token-swapped version of BinaryX (BNX).
Overall, the CEX continues to cement its global rankings with top-notch offerings for traders. Intriguingly, CoinGape previously reported that Binance also unveiled support for MKR, EPIC, DF, GMX, and RPL, adding to its optimistic market endeavors.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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