Furthermore, with BUSD, users can earn money either passively or actively. Users can store BUSD in wallets and hold it, hedging their bets against the volatility of the accumulated digital assets, or they can trade with it on the Binance market. Binance continues to build new features into the BUSD coin.
Is BUSD a stablecoin?
BUSD is a 1:1 USD-backed stablecoin approved by the New York State Department of Financial Services (NYDFS). It is issued by Paxos in partnership with Binance and can be issued and redeemed without any extra fee. Paxos issues BUSD on the Ethereum blockchain. In addition, Binance offers a wrapped BUSD token (Binance-Peg) on BNB Chain.
Who approves BUSD?
BUSD is approved by the New York State Department of Financial Services (NYDFS). BUSD is issued by Paxos Trust Company, LLC (Paxos) in partnership with Binance and can be issued and redeemed without any extra fee. Paxos issues BUSD on the Ethereum blockchain.
