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Binance Taking Charge: Listing Fees Go to Charity

by Seth Mek on October 09, 2018

One of the largest (if not the largest) cryptocurrency exchanges, Binance announced today that it will be donating 100% of its listing fees to charity.

Announced via their Medium blog post this morning, the crypto giants nestled in Malta will make “all listing fees transparent”, and all projects listed on the site will be able to declare their own fees as part of Binance’s charity initiative. The announcements 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.”

Binance’s ingenuity aims to “increase the use of blockchain for the greater good.” More news regarding this is expected shortly. CZ and Binance team are also suggesting that projects update their coin listing applications with “an appropriate number.” To maintain high standard, the Binance team will continue to conduct thorough reviews before coins are approved for listing on their exchange. It was noted that larger sum donations will not influence their decision-making in any way.

This announcement has come at a time when the Malta-based crypto giants also recently made numerous strategic investments. As reported by CryptoGlobe, Binance invested $2.5 million into 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 a time wear bears and negativity are running amok, this news sheds light on the positive side of the cryptosphere which can in turn influence, or perhaps inspire, others to follow in the steps of Binance.

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