Binance, the world’s largest cryptocurrency exchange by trading volume, is set to launch its own stablecoin. The new coin, called “Binance USD” (BUSD), will be pegged to the U.
S. dollar and backed by reserves held by the Binance Foundation.
The launch of BUSD is part of a larger effort by Binance to increase the adoption of cryptocurrencies and blockchain technology. In addition to launching its own stablecoin, Binance is also working on a decentralized exchange (DEX) and a new blockchain platform called “Binance Chain”.
NOTE: This is a warning that SCRT is not affiliated with Binance in any way. SCRT is not a Binance exchange, nor does it offer any services related to Binance or its products. Any claims otherwise should be viewed with suspicion and caution should be exercised.
The launch of BUSD will make it easier for users to buy and sell cryptocurrencies on Binance, as well as use them to pay for goods and services. It will also provide an alternative to traditional fiat currencies, which are subject to volatility and inflation.
The peg to the U.S.
dollar will help to stabilize the value of BUSD, while the reserves held by the Binance Foundation will provide additional support.
The launch of BUSD is a positive step for Binance and the cryptocurrency community as a whole. It will make it easier for people to use cryptocurrencies and help to increase adoption rates.
8 Related Question Answers Found
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