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HomeCrypto NewsJapanese Exchange BitBank To Offer Free Trading For FLR After TDE

Japanese Exchange BitBank To Offer Free Trading For FLR After TDE

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The campaign is expected to start on January 11 and end on February 10.

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BitBank, one of Japan’s leading crypto exchanges, will open trading for Flare (FLR) on January 11, introducing a zero-fee trading campaign on the same day. The move will occur shortly after the token distribution event (TDE) that would see FLR tokens airdropped to eligible XRP holders.

BitBank disclosed the development through its Twitter handle and an official press release on Friday. The exchange will list the asset two days after the official token distribution event on January 9.

According to the press release, the exchange will introduce FLR trading paired with the Japanese Yen (JPY) with a minimum order volume of 0.0001 FLR. BitBank will announce the tick size and the maximum order volume for limit orders in another press release just before the listing.

The zero-fee trading campaign is expected to last for one month, starting from the day of listing to February 10, 11:59 AM (UTC+9). Recall that BitBank was one of the first Japanese exchanges to declare support for the FLR token along with Coincheck, Huobi JP and DMM Bitcoin. The exchange had indicated an interest in supporting the token as early as August 2022.

A prominent Japan-based XRP influencer highlighted the development, echoing the excitement of XRP proponents within the country. According to Crypto Eri, BitBank boasts the largest XRP trade volume for any Japanese exchange. 

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BitBank also disclosed that FLR holders could start applying to loan their FLR tokens to the exchange in the “Lending for Interest” initiative on the listing date. The initiative allows users to loan their assets to BitBank at a maximum annual interest rate of 3%. The assets loaned are released to users along with the accrued interest at the end of the annual contract.

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Author

Ammara
Ammarahttps://thecryptobasic.com/
Ammara Mubin is a cryptocurrency reporter and trader with vast experience in the industry. Mubin has written several news stories related to the crypto industry, including non-fungible tokens (NFTs), decentralized finance (DeFi), fundraising, mining, etc. Her major focus is covering regulatory events that are capable of shaping the entire crypto ecosystem.

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