Aliens TLDR

Binance USD or BUSD is a 1:1 USD-backed stablecoin issued by Paxos on the Ethereum blockchain and approved by the New York Department of Financial Services.

BUSD, by design, works on maintaining a stable market value while also providing users with a low-volatility on-chain asset.

Unlike algorithmic stablecoins, BUSD strives to offer a product that verifies, protects, and ensures the reserves while also maintaining its US dollar peg.

BUSD is audited regularly by Withum and the attestations are made available to users on a monthly basis.

Apart from the periodical audits, BUSD provides users with the protection of being issued by a regulatory authority.

Major use cases of BUSD BUSD not only provides users with a plethora of use cases but also access to various ecosystems, dApps, and services: The stake and earn mechanisms on Binance Launchpad offers BUSD holders a chance to discover, farm, and hold the newest tokens in the market.

0% maker and transaction fee BUSD offers 300+ spot and margin trading pairs available without any maker fees for users who place an order on the orderbook.

The future of stablecoins relies on cooperation with regulatory bodies in the crypto space and BUSD gives users the criteria of holding it with confidence without any worry or hassle.