Leading cryptocurrency exchange Binance have today announced that it will be donating 100% of its listing fees to charity.
Announced on their Medium blog this morning, the Malta-head-quartered exchange will make “all listing fees transparent”, and all projects listed on the site will be able to decide their fee as part of Binance’s charity initiative.
Binance’s announcement reads: “Project teams will still propose the number they would like to provide for a ‘listing fee,’ or now more appropriately called a ‘donation.’ Binance will not dictate a number, nor is there a minimum required listing fee.”
The exchange’s charity initiative aims to “increase the use of blockchain for the greater good” and more updates regarding this will be announced shortly. Binance has also requested that projects update their coin listing application “with an appropriate number.”
To maintain high standards, the Binance team will continue to conduct thorough reviews before coins are approved for listing on its exchange. Large donations will not influence their decision-making process, Binance noted.
Binance Ramping Up
This announcement has come at a time when the Malta-based cryptocurrency trading platform has also recently made several strategic investments. As CryptoGlobe reported, Binance invested $2.5 million in TravelByBit, an Australian blockchain-based payments provider.
TravelByBit has been providing merchants at Australia’s Brisbane Airport a convenient method to accept cryptocurrencies as payment since January of 2018. Binance’s multi-million dollar investment will go toward helping TravelByBit expand its crypto payment services.
In addition to investing in promising blockchain projects, Binance launched Info 2.0 on September 20th - which is a free-to-download comprehensive list of third-party rating reports that help investors evaluate initial coin offerings (ICOs) and make informed decisions regarding their investments.