Today, Binance is the biggest cryptocurrency exchange based on trading volume, according to Coinmarketcap. To be listed on a crypto exchange today, the team behind the cryptocurrency usually have to pay a listing fee. Binance has previously charged such a listing fee, which has varied between different cryptocurrencies.
Now, Binance updates its policy for the listing of new cryptocurrencies. The new policy means that if you want to list a cryptocurrency on their platform, Binance will no longer charge a fee for the listing itself.
Instead, the team behind the cryptocurrency shall in the application determine an “appropriate” amount they want to donate to charity.
Hope other crypto exchanges will follow
A large or small donation will not affect the listing application. Binance will continue to use the same standard as before to list new cryptocurrencies, the exchange writes on their website.
Changpeng Zhao, the CEO at Binance, says he hopes that other crypto exchanges will follow suit and also donate listing fees to charity, Cointelegraph writes.