BUSD BUSD

Binance USD (BUSD) is a stablecoin that is backed 1:1 by U.S. dollars. It is approved by the New York State Department of Financial Services (NYDFS) and issued in partnership with Paxos. BUSD can be purchased on Binance and can be used for various purposes such as earning interest or participating in the Binance ecosystem. It has a market cap and a significant number of holders.

Binance USD (BUSD) stands out from other cryptocurrencies in a few ways. Firstly, it is a stablecoin, which means its value is pegged to the US dollar. This stability makes it a reliable store of value and a convenient medium of exchange.

Additionally, BUSD has a wide range of tradeable pairs on the Binance platform, with over 300 options available. This allows users to easily integrate BUSD into their trading strategies and diversify their portfolios.

Furthermore, BUSD has various fiat gateways, making it easy to buy and sell BUSD with traditional currencies. This accessibility and liquidity contribute to its popularity among users.

Lastly, BUSD is issued on Ethereum by Paxos and regulated by the NYDFS. Binance provides a pegged token service to lock BUSD on Ethereum and issues an equivalent amount of Binance-peg BUSD on other networks. This multichain capability enhances the flexibility and reach of BUSD across different blockchain networks.