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BUSD

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.
 
 
Binance USD (BUSD), le stablecoin de l'écosystème tentaculaire de Binance
 

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 cases:

  • 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

BUSD Turns 1: How It Became a Leading Stablecoin and What Lies Ahead | Binance Blog

BUSD Ecosystem

 

 

The BUSD ecosystem has grown exponentially in 2021. The stablecoin grew from a market capitalization of around US$1B at the start of 2021, to over US$14.6B at the end of 2021. This makes it the third largest stablecoin by market cap, behind Tether and USDC. This growth is largely due to more user adoption as wallets, platforms and services, DEXes and CEXes support BUSD.

For users interested in yield farming and lending BUSD, it is available on centralized platforms like Binance, Blockfi and Celsius, among others. Top DeFi protocols like Venus, Aave, yearn.finance and more also allow users to earn yield on their BUSD. A complete overview of the BUSD ecosystem can be found here.

Source : Coinmarketcap

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