Binance has introduced a new reward-bearing margin asset, LDUSDt, designed to bridge the gap between passive income and active trading. Unlike traditional stablecoins, Binance emphasised in its April 9 announcement that LDUSDt is not a stablecoin but rather a yield-generating crypto asset integrated with its Simple Earn programme.
Users can obtain LDUSDt by swapping Tether’s USDt deposited in Binance’s Simple Earn product. The asset allows holders to continue earning real-time APR rewards while using it as collateral for futures margin trading.
“No More Choosing Between Yield and Liquidity,” Says Binance
A Binance spokesperson explained that the launch eliminates the need for users to choose between passive income and trading liquidity:
“Now our users don’t have to choose between passive rewards from Binance Earn or liquid margin assets for futures trading.”
This marks the second time Binance has released a yield-bearing margin asset. The first, BFUSD, was launched in 2024 and was also met with comparisons to the failed TerraUSD (UST). Binance responded by clarifying that BFUSD—and now LDUSDt—should not be classified as stablecoins.
LDUSDt Isn’t a Stablecoin, Binance Repeats
Anticipating comparisons to algorithmic stablecoins, Binance made its position clear in the latest statement:
“LDUSDt is not a stablecoin but a crypto asset that can be used as Futures trading margin while allowing users to earn Simple Earn Real-Time APR rewards.”
The token can be used as a margin asset in multi-asset mode on Binance’s futures platform, with yields accruing in real-time.
Binance Trading Volume Still Leads the Market
Despite increasing regulatory scrutiny, Binance continues to dominate global trading volumes. According to CoinGecko, Binance processed over $16.5 billion in trades in the past 24 hours, dwarfing runner-up Bitget’s $5 billion. CoinMarketCap, also owned by Binance, reported even higher figures, listing $24.6 billion in 24-hour volume for the exchange, compared to $3.84 billion on Bitget.
Global Expansion Continues Amid Legal Pressure
Binance’s international reach shows no signs of slowing. Former CEO Changpeng “CZ” Zhao has reportedly begun advising the Kyrgyz Republic on blockchain regulation after signing a memorandum of understanding with the country’s foreign investment agency.
Meanwhile, current CEO Richard Teng remains in the spotlight. Speaking at Blockworks’ 2025 Digital Asset Summit in New York on March 18, Teng denied speculation that Binance.US was in deal talks with organisations linked to former U.S. President Donald Trump.
Binance’s continued product rollouts and international partnerships suggest the exchange is pushing forward, even as it navigates turbulent legal waters worldwide.
