Binance, Exchanges

What Is Busd on Binance?

Busd is a stablecoin that is pegged to the US Dollar. It is an ERC20 token that is issued by the Binance Chain. The aim of Busd is to provide a stable and decentralized currency that can be used to trade on the Binance Chain.

Busd is backed by the Binance Coin (BNB), which is itself pegged to the US Dollar. This means that each Busd token is backed by a real US Dollar.

The benefits of using a stablecoin like Busd are that it can be used to trade without having to worry about volatility, and it can also be used to send and receive payments in a more efficient way. Moreover, because it is backed by BNB, it has the added security of being backed by one of the world’s largest cryptocurrency exchanges.

To sum up, Busd is a stablecoin that is pegged to the US Dollar. It is issued by the Binance Chain and backed by BNB.

The benefits of using Busd include being able to trade without worrying about volatility, and being able to send and receive payments in a more efficient way.

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