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Coin: BINANCE USD (BUSD)
Binance USD is a stablecoin issued by the worlds largest cryptocurrency exchange, Binance.
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CMT Digital
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Launched in September of 2019, BinanceUSD is a stablecoin that is pegged 1:1 to the US dollar and backed entirely by actual holdings in FDIC-insured banks. Regulated by the New York Department of Financial Services, BinanceUSD has increased public trust in the crypto world and expanded the capabilities of cryptocurrency, allowing it to be used in both the centralised and decentralised world of finance.
BUSD has quickly become one of the largest stable coins by market cap and has become a bridge between fiat currency and cryptocurrency by eliminating the volatility experienced in the world of crypto. BinanceUSD was created by two of the most prominent names in the Crypto world, Binance and Paxos and is backed by major investors such as CMT Digital. By storing tangible fiat currency assets in regulated reserves to back up its digital currency, BinanceUSD has not only increased trust but separated itself from the other stablecoins that continue to flood the crypto market.
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