BINANCE USD

Launched in September 2019, Binance USD (BUSD) is a fiat-collateralized stablecoin launched in collaboration between Binance and Paxos. BUSD is the frist stablecoin launched as part of Binance's Venus project. It was also revealed at the time of launched that NYDFS had approved the new offering, which Binance is launched in partnership with the Paxos.

Binance USD are digitised US Dollars and are always purchased and redeemed at 1 BUSD for 1 US dollar. Binance and Paxos don't charge a fee for the purchase or redemption of Binance USD (BUSD) However bank charges/wire fees may apply. Transfer globally, fast and low-cost.

Some of the benefits of using Binance USD are:

REGULATED
Paxos and BUSD are approved and regulated by the New York State Department of Financial Services, ensuring the utmost of consumer protections.

BACKED BY DOLLARS
BUSD is 100% backed by reserves held in either or both (i) fiat cash in dedicated omnibus accounts at insured U.S. banks and/or (ii) U.S. Treasury bills (including through repurchase agreements and/or money-market funds invested in U.S. Treasury bills).

DEVELOPED IN PARTNERSHIP WITH BINANCE
BUSD was created in partnership between the largest and most trusted companies in the crypto space.

AUDITED
A top auditing firm will attest to the matching supply of BUSD tokens and underlying U.S. dollars on a monthly basis.

Users can earn rewards for supported chains by simply holding coins in their Binance Accounts. Vechain, Algorand, Tezos, and Atom are some popular coins to stake on Binance.

Binance's top competitors include Coinbase, Kraken, Bibox, Bithumb, Bittrex and Huobi.