At the end of April, Binance made notable adjustments to its spot fee structure, ending its "zero trading fee" promotion for several trading pairs. Previously, Binance had delisted FDUSD in favor of its own stablecoin, BUSD. However, following BUSD’s shutdown, Binance reintroduced FDUSD with favorable fee rates to generate excitement. Notably, BTC/FDUSD trading was initially free, making it the only free way to trade Bitcoin on the platform after taker fees were reintroduced on the BTC/TUSD pair.

In December, Binance further promoted FDUSD by making several major pairs free to trade. This initiative significantly boosted FDUSD’s prominence, with pairs involving the stablecoin accounting for over 35% of Binance’s spot trading volume in April. This success was achieved in a relatively short time compared to TUSD, Binance’s previous successor to BUSD.

On April 25, Binance ended the zero-fee trading promotion for FDUSD pairs, including BTC/FDUSD. However, the exchange maintained a zero-maker fee promotion for these pairs, similar to the promotion for TUSD.

Despite the end of the zero-fee promotion, FDUSD continues to play a significant role, projected to account for 33.55% of spot trading in June. The BTC/FDUSD pair remains particularly popular, with $4.5 billion in trading volume in the past 24 hours, compared to BTC/USDT’s $2.5 billion and BTC/TUSD’s $9.6 million.

USDT pairs still dominate other spot assets due to USDT's larger market presence and recognition. While FDUSD pairs offer slightly more favorable trading terms due to the no-maker fee, USDT’s prominence remains strong without any additional incentives.

Future regulatory pressures in the EU, particularly under the MiCA regulation, may impact USDT pairs on Binance, though the extent of Binance’s volume from the EU remains unclear. Overall, the end of free trading for FDUSD pairs has not significantly diminished its impact, as the stablecoin continues to hold a strong position in the market.