What is BUSD and how does it relate to Binance?

5 answers

• Dec 17, 2021 · 3 years ago
  BUSD stands for Binance USD, which is a stablecoin issued by Binance, one of the largest cryptocurrency exchanges in the world. It is pegged to the value of the US dollar, which means that 1 BUSD is always equal to 1 USD. BUSD is built on the Binance Chain and is backed by reserves of US dollars held by Paxos Trust Company. It is designed to provide users with a stable and secure digital asset that can be used for trading, payments, and other financial transactions within the Binance ecosystem.
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• Dec 17, 2021 · 3 years ago
  BUSD is a stablecoin created by Binance, one of the leading cryptocurrency exchanges. It is a digital asset that is designed to maintain a stable value, with each BUSD token being backed by a corresponding amount of US dollars held in reserve. This stability makes BUSD useful for traders who want to hedge against the volatility of other cryptocurrencies. BUSD can be used for various purposes within the Binance ecosystem, such as trading, making payments, and earning interest through Binance's lending platform.
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• Dec 17, 2021 · 3 years ago
  BUSD, also known as Binance USD, is a stablecoin issued by Paxos in partnership with Binance. It is an ERC-20 token that is pegged to the US dollar on a 1:1 basis. BUSD can be used for trading on the Binance exchange, as well as for making payments and transferring funds within the Binance ecosystem. It provides users with a stable and reliable digital asset that can be easily exchanged for other cryptocurrencies or fiat currencies. BUSD is regulated and audited by the New York State Department of Financial Services (NYDFS), ensuring transparency and trustworthiness.
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• Dec 17, 2021 · 3 years ago
  BUSD is a stablecoin that is closely tied to Binance, one of the largest cryptocurrency exchanges. It is designed to provide users with a stable and secure digital asset that can be used for trading, payments, and other financial transactions within the Binance ecosystem. BUSD is backed by reserves of US dollars held by Paxos Trust Company, which ensures that each BUSD token is fully collateralized. This makes BUSD a reliable and trustworthy stablecoin that can be easily converted to other cryptocurrencies or fiat currencies on the Binance exchange.
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• Dec 17, 2021 · 3 years ago
  BUSD, or Binance USD, is a stablecoin issued by Binance, one of the leading cryptocurrency exchanges. It is pegged to the value of the US dollar, which means that 1 BUSD is always equal to 1 USD. BUSD provides users with a stable and reliable digital asset that can be used for trading, making payments, and transferring funds within the Binance ecosystem. It offers a convenient way to store and transfer value without being exposed to the volatility of other cryptocurrencies.
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