Binance, one of the world’s largest cryptocurrency exchanges by trading volume, wants you to mix business with charity. That’s why it intends to let companies set their own trading fees and then donate those fees to the Blockchain Charity Foundation it created in April.
According to a company blog post, listing fees for token projects will now be referred to as “donations.” The businesses can set their own fees without a “minimum required listing fee” imposed by Binance.
These trading fees are generally not made public but, if a recent Bloomberg report is any indication, they can be hefty.
So why give these fees to charity? According to Binance’s blog post, “This change will further push Binance’s charity initiatives and increase the use of blockchain for the greater good. We will have further updates in this area shortly.”
Bitmain’s charity is chaired by Helen Hai, who has a long resume of charitable work including being a goodwill ambassador for the United Nations Industrial Development Organization.