Details
Asset Name Binance USD
Trade Ticker BUSD
Logo Icon
Asset Type Token
Subtype BEP20
Total Supply 4,200,999,999.996203
Proof Type PoS
Algorithm ethash
Categories Binance Smart Chain
Website https://www.paxos.com/busd/
Explorer https://bscscan.com/token/0xe9e7cea3dedca5984780bafc599bd69add087d56
Coingecko https://www.coingecko.com/en/coins/binance-usd
Base BSC
Description

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 BEP-20. 

https://bscscan.com/token/0xe9e7cea3dedca5984780bafc599bd69add087d56

BUSD Use Case

Based 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.

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