Binance USDBUSD

BUSD is a stablecoin founded by Paxos and Binance. It is one of the few stablecoins that are compliant with the regulatory standards of the New York State Department of Financial Services (NYDFS).

Price History
$0.00
Vol0.00BUSD
1D
1W
1M
1Y
MAX
Market Info
Market Cap
$22,152,178,563
Diluted Market Cap
$22,152,178,563
Vol 24h
$1,303,183
Vol / Market Cap
0.00006
24h Change
-
1h Change
-
24h High
$1.00
24h Low
$1.00
Latest Block
-
Block Reward
-
Hashes Per Second
-
Circulating Supply
22,152,178,564
Max Supply
Uncapped
Consensus
-
Algorithm
-
Genesis Block Date
2019-09-10
Data provided by CryptoCompare
About

A brief history
Binance was founded in 2017 by Changpeng Zhao, a developer who had previously created high-frequency trading software. Binance offers crypto-to-crypto trading in more than 500 cryptocurrencies and virtual tokens, including Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Dogecoin (DOGE), and its own token Binance Coin (BNB). Additionally, the Binance exchange has among the lowest transaction fees for cryptocurrency exchanges while also offering high liquidity and discounts to users who pay in the native BNB cryptocurrency tokens.

BUSD in practice
The mechanism for keeping BUSD’s peg is relatively simple. Each BUSD is exchangeable for 1 USD from the reserves. By sending your BUSD to Paxos, they will burn your tokens and provide you with the fiat currency. This mechanism keeps the supply and reserves at a constant 1:1 ratio. Whenever the price of BUSD begins to move lower than $1 per 1 BUSD, traders will purchase BUSD in large quantities. After purchasing large amounts of BUSD, traders can then convert the BUSD tokens into fiat through the Paxos platform. An increase in demand for BUSD naturally raises the token price back up to $1, restoring the 1:1 peg. As mentioned before, BUSD is one of the few stablecoins that are compliant with the regulatory standards of the New York State Department of Financial Services (NYDFS). New York state regulators have enforced particular measures on Paxos, Binance, and how the stablecoin must operate. Along with making sure the token is fully collateralized, Paxos must carefully control the creation and burning of BUSD tokens. Paxos also has the right to freeze accounts and remove funds if needed due to illegal activity. These principles all adhere to the Trust Charter and New York banking laws applicable to the stablecoin.

Project Links
ETH Creator Address
0x10-71d4
ETH Contract Address
0x4f-7c53
Please verify all project links, data may change over time. Be vigilant of scams interpreting official projects.
ROI
USD
ETH
BTC
6H
0.00%
0.00%
0.00%
1D
0.00%
1.77%
0.79%
1W
0.00%
-5.30%
-3.01%
1M
0.00%
20.33%
19.14%
6M
0.00%
46.05%
84.83%
1Y
0.05%
231.74%
216.65%
3Y
-0.20%
-88.59%
-57.61%
USD
BUSD

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