Top crypto exchange Binance to donate all listing fees to charity
Binance, the top cryptocurrency exchange by trading volume, has just updated its listing fee. On Monday, the digital asset trading platform announced that it would now donate all collected listing fees to charity. The new policy adopted by China-based Binance is expected to enhance transparency in the listing fees procedure.
To list their coins on the trading platform, crypto projects will be required to suggest a listing fee that they deem appropriate, which will now be donated as part of the exchange’s new policy. As was the case earlier, the platform will not charge a minimum listing fee.
The exchange will continue to hold the bar high while reviewing potential projects to be listed. However, the virtual currency trading platform pointed out that a large donation would not necessarily guarantee the outcome of the listing review.
Most recently, the company’s CEO Changpeng Zhao had described the exchange to be one of the most ethical and solid trading platforms in the crypto space. He added that this feature was “kind of recognized by people so we’ll continue to do to do that”.
Last week, the exchange issued a statement detailing various use cases for its native crypto Binance Coin [BNB]. These use cases include paying discounted trading fees on the exchange and HODLing the tokens for later use on company’s upcoming decentralized exchange.
At the time of writing, the platform had clocked daily trading volumes worth $899.3 million, data from CoinMarketCap showed.
Image via Shutterstock
Join our Telegram group