BUSD Token on BNB Chain

Introducing BUSD Token (BUSD): A New Arrival on the BNB Chain

Welcome to the detailed profile of BUSD Token (BUSD), the latest addition to the BNB Chain. As an exciting new cryptocurrency token, BUSD Token (BUSD) was launched with the intent to join the thriving BNB Chain ecosystem.

This token operates on the BNB Chain, an infrastructure that supports the creation and execution of decentralized applications (dApps) and allows users to transact in digital currencies seamlessly and securely.

At NewCoinHub, we provide up-to-date and comprehensive data about BUSD Token (BUSD) including its current price, trading volume, liquidity status, and the number of holders. We also supply the official smart contract address, crucial for those interested in further exploration or investment.

Please note that the world of cryptocurrency can be volatile and unpredictable. We encourage all visitors to perform their own due diligence and research when considering investments. For the most accurate and recent data, continue to refer to this page, as we strive to update our information in real-time.

Read on to learn more about BUSD Token (BUSD) and find answers to some frequently asked questions.

Token description

###What is BUSD? Binance USD (BUSD) is a 1:1 USD-backed [stable coin](https://coinmarketcap.com/alexandria/article/what-is-a-stablecoin) 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. ###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 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](https://coinmarketcap.com/alexandria/glossary/stablecoin) by [market cap](https://coinmarketcap.com/alexandria/glossary/market-capitalization-market-cap-mcap), behind [Tether](https://coinmarketcap.com/currencies/tether/) and [USDC](https://coinmarketcap.com/currencies/usd-coin/). This growth is largely due to more user adoption as wallets, platforms and services, [DEXes](https://coinmarketcap.com/alexandria/glossary/decentralized-exchange-dex) and [CEXes](https://coinmarketcap.com/alexandria/glossary/centralized-exchange-cex) support BUSD. For users interested in [yield farming](https://coinmarketcap.com/alexandria/glossary/yield-farming) and [lending](https://coinmarketcap.com/alexandria/glossary/peer-to-peer-p2p-lending) BUSD, it is available on centralized platforms like Binance, Blockfi and Celsius, among others. Top [DeFi](https://coinmarketcap.com/alexandria/glossary/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](https://twitter.com/binance/status/1482057448676806656/photo/1). ## Paxos Reveals Assets Backing BUSD In light of the TerraUSD saga, a number of stablecoin issuers have moved to disclose the assets backing their coins. As of June 30, 2022, 96% of the assets backing the Binance USD were held in cash and cash equivalents, while 4% were invested in U.S. Treasury bills, Paxos revealed. All of the company’s cash balances are held in U.S.-insured depository institutions, while the cash equivalents are held in “U.S. Treasury bills with maturities of 3 months or less, or overnight repurchase agreements, overcollateralized by U.S. Treasury instruments.” ### BUSD and Charity In April 2022, Binance donated $2.5 million in BUSD through its charity organization to USA for UNHCR, a UN refugee agency. This was the agency’s first stablecoin crypto donation. The move demonstrated how cryptocurrency can play a key role in raising funds and supporting humanitarian aid. ###How can you buy BUSD? You can buy BUSD from exchanges, for the latest list of exchanges and trading pairs for this cryptocurrency, click on our market pairs tab (https://coinmarketcap.com/currencies/binance-usd/markets). You can purchase and redeem BUSD from Paxos: (https://www.paxos.com/busd/) BUSD is 100% backed by reserves held in either or both (i) fiat cash in dedicated omnibus accounts at insured U.S. banks and/or (ii) U.S. Treasury bills (including through repurchase agreements and/or money-market funds invested in U.S. Treasury bills). BUSD is approved by the New York State Department of Financial Services (NYDFS). BUSD is issued by Paxos Trust Company, LLC (Paxos) in partnership with Binance and can be issued and redeemed without any extra fee. Paxos issues BUSD on the Ethereum blockchain. In addition, Binance offers a wrapped BUSD token (Binance-Peg) on BNB Chain. Please note: Binance-Peg BUSD is a Binance product; it is not issued by Paxos nor regulated by the New York State Department of Financial Services.