Binance, the world's largest cryptocurrency exchange by market capitalization, has decided to donate all fees associated with the listing of a cryptocurrency token to charity, starting immediately.
The project team has been given the prerogative to decide the amount of the listing fee, or what now is called a donation by Binance. There is also no minimum required listing fee.
Hong Kong-based Binance has asked the projects that are under consideration for listing to update their application with an appropriate amount.
However, the exchange clarified that a large donation does not guarantee or in any way influence the outcome of its listing review process. It will maintain the same high standard for the listing review process.
This move by Binance is expected to give a boost to its charity initiatives through the Blockchain Charity Foundation (BCF) initiated by it.
In the past, Binance was allegedly charging exorbitant fees from developers to list altcoins. However, the exchange claimed that it had also listed several major assets without charging a fee.
Binance is currently the world's largest crypto exchange by daily trade volumes, seeing about $1.24 billion in trading volume over the past 24 hours.
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