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What is BUSD?
Binance USD (BUSD) is a 1:1 USD-backed stable coin issued by Binance (in partnership with Paxos), Approved and regulated by the New York State Department of Financial Services (NYDFS), The BUSD Monthly Audit Report can be viewed from the official website. Launched on 5 Sep 2019, BUSD aims to meld the stability of the dollar with blockchain technology. It is a digital fiat currency, issued as ERC-20 and supports BEP-2.
BUSD Use CaseBased on the price stability, Stablecoin plays an important role in transactions, payments and settlement, and Decentralised Finance (DeFi).
Here are some of the BUSD use case:
Transfer your digital dollars (BUSD) anywhere in minutes, with low cost and on the blockchain.Trade BUSD on different exchanges and DEX.Deposit BUSD to earn an interest rate.Pay BUSD as payment for goods and services.Use BUSD as collateral and loan asset.Use BUSD as cross collateral in Futures.Store BUSD on an exchange or in a wallet.How can you buy BUSD?You can buy BUSD from exchanges, for the latest list of exchanges and trading pairs for this cryptocurrency, click on our market pairs tab (https://coinmarketcap.com/currencies/binance-usd/markets). You can purchase and redeem BUSD from Paxos: (https://www.paxos.com/busd/)
referencePosted on 16 Nov 2024, this text provides information on Miscellaneous in Cryptocurrency related to Cryptocurrency. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.
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