What is BUSD and how does it work on Binance?

3 answers

• Nov 24, 2021 · 3 years ago
  BUSD, or Binance USD, is a stablecoin issued by Binance. It is pegged to the value of the US dollar, which means that 1 BUSD is always equal to 1 USD. On the Binance platform, BUSD can be used for various purposes such as trading, investing, and making payments. It provides users with a stable and secure digital asset that can be easily transferred and used within the Binance ecosystem.
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• Nov 24, 2021 · 3 years ago
  BUSD is a stablecoin created by Binance, one of the largest cryptocurrency exchanges in the world. It is designed to provide stability in an otherwise volatile cryptocurrency market. BUSD is backed by reserves of US dollars held by Paxos Trust Company, a regulated financial institution. This ensures that each BUSD token is fully backed by an equivalent amount of US dollars, providing users with confidence in its value and stability.
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• Nov 24, 2021 · 3 years ago
  BUSD is a stablecoin that was launched by Binance in partnership with Paxos. It is regulated by the New York State Department of Financial Services (NYDFS) and backed by US dollars held in FDIC-insured banks. BUSD can be used on the Binance platform for trading, investing, and making payments. It offers users a stable and reliable digital asset that can be easily converted to and from other cryptocurrencies.
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