What is the difference between BUSD and PAXOS?

3 answers

• Dec 16, 2021 · 3 years ago
  BUSD and PAXOS are both stablecoins, but they have some notable differences. BUSD is issued by Binance, one of the largest cryptocurrency exchanges, while PAXOS is issued by Paxos, a regulated financial institution. In terms of functionality, BUSD is primarily used within the Binance ecosystem, while PAXOS is more widely accepted across various platforms. Additionally, BUSD is backed by a 1:1 ratio with the US dollar, while PAXOS is backed by a combination of cash and short-term US Treasury bonds. Overall, both BUSD and PAXOS provide stability in the volatile world of cryptocurrencies, but their issuers and acceptance differ.
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• Dec 16, 2021 · 3 years ago
  When it comes to BUSD and PAXOS, the main difference lies in their issuers and acceptance. BUSD is issued by Binance, a well-known cryptocurrency exchange, while PAXOS is issued by Paxos, a regulated financial institution. BUSD is primarily used within the Binance ecosystem, making it convenient for traders on the platform. On the other hand, PAXOS is more widely accepted and can be used on various platforms. Both BUSD and PAXOS aim to provide stability by being pegged to the US dollar, but their underlying technology and issuers set them apart.
  551184
• Dec 16, 2021 · 3 years ago
  BUSD and PAXOS are stablecoins that aim to provide stability in the volatile cryptocurrency market. BUSD is issued by Binance, one of the leading cryptocurrency exchanges, while PAXOS is issued by Paxos, a regulated financial institution. BUSD is primarily used within the Binance ecosystem, allowing users to easily trade and transact within the platform. PAXOS, on the other hand, is accepted by a wider range of platforms and can be used for various purposes. Both BUSD and PAXOS are backed by reserves, with BUSD being backed by US dollars held in FDIC-insured banks and PAXOS being backed by a combination of cash and short-term US Treasury bonds. Overall, the main difference between BUSD and PAXOS lies in their issuers, acceptance, and underlying reserves.
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