![]() July 2023 Hong Kong to launch a stablecoin pegged to the region’s dollar in a bid to compete and challenge the dominance of the US dollar. Today, with more than 3 million active holders and 18 billion coins in circulation, BUSD is accepted as payment by a variety of businesses and individuals globally. Hong Kong Government to Launch Stablecoin to Challenge Tether, USD Coin, Binance USD, and TrueUSD By John Kumi 5. Because of this, BUSD is considered one of the safest among the top stablecoin in existence.īUSD is used as a means of payment that can be sent internationally and verified on the public blockchain ledger within seconds. In its turn Tether USD trading volume for one day is 0.00 USD. ![]() This very strict accounting and reconciliation process necessitates a monthly audit in order to verify the safety of investors’ funds, as well as other security measures put in place by the New York Department of Financial Services (NYDFS) and other regulatory agencies.Īdditionally, BUSD is one of the only existing fiat-backed stablecoins with records that verify the security of its physical reserves. Binance USD trading volume for 24 hours is 66457122.37 USD. The partnership entails Paxos holding the equivalent of fiat USD in reserve for every BUSD stablecoin in circulation. The list of BEP-20 Tokens and their Prices, Market Capitalizations and the Number of Holders in the Binance Blockchain on BscScan. ![]() Binance USD (BUSD) is a stablecoin , so its value is pegged to a fiat currency - in this case, the US dollar.īUSD was launched in September 2019 as part of a joint partnership between Binance and blockchain and finance company Paxos, headquartered in New York. ![]()
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