Turn off adblocker and reload page.
BUSD is a regulated, fiat-backed stablecoin pegged to the U.S. dollar. For every unit of BUSD, there is one U.S. dollar held in reserve. In other words, the supply of BUSD is pegged to the U.S. dollar at a 1:1 ratio. Holders can swap their tokens for fiat and vice versa.
As a stablecoin, BUSD is designed to maintain a stable market value. It allows investors and traders to hold a low-volatility asset on the blockchain without the need to exit the crypto space.
BUSD is a stablecoin founded by Paxos and Binance. Paxos uses blockchain technology to offer their Stablecoin as a Service product to external companies. In the past, they also created a gold-backed stablecoin called PAX Gold (PAXG). The New York State Department of Financial Services regulates both BUSD and PAXG tokens.
On a technical level, BUSD is a fiat-backed stablecoin that maintains a U.S. dollar peg. An amount of U.S. dollars equal to the total supply of BUSD is held in custody by Paxos, acting as its reserves in FDIC-insured U.S. banks or backed by U.S. Treasuries. When the price of the U.S. dollar rises or falls, the price of BUSD also does in equal amounts. This is the most common and traditional model of stablecoin.
BUSD offers three key attributes to transactions: accessibility, flexibility, and speed. The token is easily accessible through Paxos or Binance. You can purchase them through Binance’s exchange or fiat gateway services, or send an amount in U.S. dollars to Paxos to mint new BUSD tokens for you.
BUSD also offers flexibility in allowing crypto users to quickly turn their holdings into a stable asset without moving off the blockchain. Finally, by using BUSD, a user can quickly send money around the globe with nominal fees.
|Coin||Symbol||Algorythm||Price USD||Volume 24h||Circulation Supply||Change 24h|