(Bloomberg) -- Binance.US, the US partner of the world’s largest digital-asset exchange, is cutting trading fees as it battles for customer cash following the collapse of FTX.

The exchange will now offer zero-fee trading on four of the most commonly-traded Ethereum market pairs, following a similar move with Bitcoin in June. It also announced a 25% fee markdown across all trading pairs when platform token Binance Coin is used to pay for the charges, as well as volume-based discounts, according to a statement on the company’s website.

The move comes as crypto exchanges battle for customer assets after FTX’s implosion. A record amount of Bitcoin has been moved off exchanges over the last 30 days, according to data from Glassnode, as the risk of further contagion in the industry fuels angst among users with money in online platforms. Analysts estimate that some of the outflows are due to investors deciding to self-custody their tokens.  

Binance Coin, or BNB, is primarily used to pay transaction fees on the Binance exchange. Crypto trading platforms tend to issue such coins to raise capital and boost trading volume with fee discounts for payments using the tokens.

--With assistance from Yueqi Yang.

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