What is Binance USD? – BUSD Beginners Guide
The Binance USD coin is a fiat-collateralized cryptocurrency, hard pegged 1:1 to the US Dollar, that offers users the ability to transact with other digital blockchain-based assets. As a stablecoin, Binance USD minimizes the volatility risks typically associated with cryptocurrencies. Binance USD was founded to improve the decentralized financial ecosystem with a frictionless global network, allowing digital assets to add accessibility, flexibility, and speed to transactions at scale. Binance USD coins are ERC-20 tokens, issued on the Ethereum blockchain. Each Binance USD coin is backed by one US dollar, held in FDIC insured US bank accounts owned by Paxos, who has partnered with Binance to meet stablecoin regulations. To date, Binance USD is one of only three stablecoins that have been approved by U.S. regulators.
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