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    Cryptocurrencies Binance USD
    USD
    $1.00035 $ 1.00035
    +¥5204,24 0.2% 1D
    1D 1M 1Y ALL
    LOADING DATA
    Market Cap (USD)
    20.88B
    24H Volume
    6.8B
    Circulating Supply
    20.88B BUSD
    Max Supply
    --
    All Time High
    --
    Rank
    7

    About Binance USD (BUSD)

    Binance USD (BUSD) is a stablecoin jointly issued by Binance and Paxos. It is pegged to the dollar price at a ratio of 1:1 and is regulated by the New York State Department of Financial Services (NYDFS). The reserve of BUSD consists of 96% cash or cash equivalents and 4% short-term interest free treasury bonds, which are deposited in the Bank of America by Paxos.


    How does Binance USD (BUSD) Work?

    The operation mechanism of Binance USD (BUSD) is similar to that of the mainstream stablecoin, and the target asset price is pegged to increasing the amount of reserves according to the number of tokens issued. When it is necessary to issue BUSD, the issuer will create an equivalent BUSD according to the amount of USD delivered by the investor and deliver it to the investor. The USD delivered by the investor will be deposited by Paxos as a reserve in Bank of America. When the investor needs to exchange US dollars, the issuer will deliver the corresponding amount of US dollars in the reserve to the investor according to the amount of BUSD delivered by the investor, and the corresponding amount of BUSD will be burnt/destroyed.


    BUSD is regulated by the New York State Department of Financial Services (NYDFS) and uses the SetLawEnforcementRole function in its operation, which enables Paxos to restrict illegal transactions in NYDFS regulated accounts. Once a criminal or fraudulent account is found, it will be immediately accessible to supervision.


    What is Binance USD (BUSD)?

    BUSD is a crypto stablecoin with value pegged to US dollars, which is not affected by market price fluctuations. Investors can exchange assets into stablecoins such as BUSD in time when the crypto market fluctuates violently, so as to ensure that the assets will not lose too much. However, stablecoins such as BUSD are relatively unsuitable for investment, because the possibility of obtaining large profits is low.

    BUSD can be circulated in ERC-20, Binance Smart Chain (BSC), and Binance Chain BEP2. Investors can use BUSD to trade, transfer, and pay on these three chains.


    Binance USD (BUSD) Crypto Wallet

    In addition to placing BUSD in the Gate.io exchange to facilitate trading, BUSD can also be placed in a crypto wallet.
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