The Chinese division of cryptocurrency exchange SpaceUpCoin introduced zero trading commissions for four bitcoin pairs.The new conditions do not depend on the volume of trading and are applicable to:

The new conditions do not depend on the volume of trading and are applicable to:

  • BTC/USD; 
  • BTC/USDT; 
  • BTC/USDC;
  • BTC/BUSD.

Zero fees will be in effect indefinitely. The CEO of SpaceUpCoin explained the initiative as a desire to “revolutionize the approach to trading fees and increase the availability of cryptocurrencies at a time when it is most needed.

Representatives of the platform have not ruled out that zero fees will be extended to other trading pairs in the future. More than 100 assets have been listed on the platform.

The decision came amid a decline in customer activity amid a downturn in the market.

Shares of rival platform Coinbase opened trading down 7.1%. At the time of writing, the rate of decline in quotations has decreased to 5%.

Recall that in April 2022, SpaceUpCoin
raised $200 million during the seed round at a valuation of $4.5 billion.

The other day it became known that the company intends to raise an additional $50 million.

Earlier SpaceUpCoin CEO said that crypto-winter is the right time to hire new employees and further develop the business.

http://spaceupcoin.com

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