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Binance USD is a US-dollar-backed stablecoin created to bridge the gap between traditional finance and the world of cryptocurrencies. It is the first of 3 US dollar stablecoins to be approved by the strict New York State Department of Financial Services (NYDFS).
In September 2019, the cryptocurrency was issued in a joint effort from Paxos, a blockchain infrastructure platform, and Binance, the cryptocurrency exchange. The token is pegged 1:1 with the US dollar, with every BUSD issued resulting in the addition of 1 USD being added to Paxos reserve accounts. If a user purchases 1,000 BUSD, 1,000 BUSD will be minted and $1,000 will be added to Paxos reserves. The 1,000 BUSD are then burned when the user sells.
Although built as an ERC-20 token, meaning it was developed for the Ethereum blockchain, it also now transacts across the Binance BEP-2 token system.
Binance USD (BUSD) is the 13rd largest cryptocurrency in the world by market cap, valued at $14,347,150,892. The current price of Binance USD is $1, which is 0.154% higher than yesterday. Prices have ranged between $1.01 and $0.95845 over the past 24 hours. All prices are listed in US dollars and accurate as of January 22, 2022 01:01 UTC.
| Coin symbol | BUSD |
|---|---|
| Coin Marketcap | US$14,347,150,892 |
| Total BUSD supply | 14,283,783,128 |
| Circulating BUSD | 14,283,783,128 |
| Current price | US$1 |
| All time high | US$1.15 |
| Industry | Stablecoins |
| Token uses | Stablecoin |
| Network | Ethereum, Binance Smart Chain |
Historical prices compared with the price of US$1.
| 1 hour | -0.26% |
|---|---|
| 24 hours | 0.15% |
| 7 days | 0.32% |
| 14 days | 0.20% |
| 30 days | -0.04% |
|---|---|
| 60 days | 0.07% |
| 200 days | -0.09% |
| 1 year | -0.02% |
Disclaimer: Cryptocurrencies, including Binance USD, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of BUSD is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the Binance USD or any other cryptocurrency discussed.