Understanding BUSD and Binance-Peg BUSD | Binance Blog

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Transparency and user protection have always been a top priority at Binance. BUSD is a fully regulated US Dollar-pegged stablecoin. We also offer the Binance-Peg BUSD, a wrapped version to extend BUSD's utility to other blockchains. Learn more ⬇️

BUSD is a stablecoin pegged to the US Dollar and issued by Paxos with branding support from Binance. It is approved by the New York Department of Financial Services , a regulator known throughout the finance industry for applying exceptionally rigorous standards to the entities and products it oversees. The asset is always available for purchase and redemption at a rate of 1 BUSD to 1 USD.

BUSD is designed with three key areas in mind: high-quality reserves, audits, and regulation. Well-designed stablecoins should only be backed by cash and short-term US Treasuries with a maturity ofare provided, allowing anyone to verify that BUSD is 100% backed by cash or cash equivalents. In accordance with strict custody regulations enforced by the New York state regulators, Paxos’ BUSD reserves are only held in FDIC-insured, bankruptcy-remote bank accounts or US Treasury instruments.

Customer assets are thus protected from bankruptcy and kept separate from corporate funds. As the assets are fully segregated, users do not need to worry about the issuer becoming insolvent - the assets will return to their rightful owners even in that unlikely event. Along with Paxos issuing BUSD on the Ethereum blockchain, Binance offers a wrapped BUSD token, called Binance-Peg BUSD, that runs on several other blockchain networks, including BNB Chain, Avalanche, and Polygon.BUSD is natively issued on Ethereum, thus limiting its usage outside of the Ethereum ecosystem.

 

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cz_binance you're dealing with shitty jobs CZZZZ you're sleeping no more trust in crypto no one will buy it scared investor i wouldn't invest a penny if i knew you'd even give it a trillion dollars now

Wanna buy BlockFi

All this information with ftx you all post on social media is just to manipulate the market by crippling other exchanges just to be the monopoly. You all will soon be regulated and this fake as shit will stop

cz_binance 狗赵马上被SEC搞死,看看吧😂

cz_binance Nope not true cz_binance *USER PROTECTION* What about al users on FTX_Official included users who have a account on FTX... your so wrong here. Maybe Binance is also not liquidity enough for all the funds. Where are the statistics of the Binance exchange 🤔

cz_binance we're tired now cz please move it up 

cz_binance Hello CZ you are a genius and inspiring, you lend me 3500 BUSD, this crypto winter ruined me more than my country Argentina usually does. I promise to return it soon. Cheers

cz_binance 💰💰💰

cz_binance 真是条狗啊

cz_binance FWC_Crypto_FOOTBALL ⚽⚽⚽ Qatar 🇶🇦🇶🇦🇶🇦

cz_binance FWC_TOKEN Qatar ⚽⚽⚽🇶🇦🇶🇦🇶🇦

cz_binance Crousd

Lets try to bank run binance see how liquid they are

cz_binance 'fully regulated' just like FTX

So when are you gonna end up like SBF_FTX ?

cz_binance

cz_binance czhelpaax Good afternoon, do you know about the situation with the AAX exchange, which has over 3 million users? Can you help us please? CZBinance cz_binance

Do something about your luanchpool coin hashflow listed price. Was 14.5 and they now in cents if this Guys are not strong then why u list them and rekt my money please Dp something🙏

cz_binance

bulls and stock markets want a drop for cryptocurrencies. It's best to stay away from crypto these days.

cz_binance Binance 11/18 ARPA/PHB/USDT, VITE/BUSD trading support stop listing rubbish coins

cz_binance Why encourage trust wallet any proplem binance exchange

cz_binance It's all debt, what you gonna do when bonds Fall?

Makes perps available like ftx had for retail in countries (without being wholesale) would have prevented so many traders caught in ftx debacle

cz_binance Thanks but I can not understand the disclaimer completely, highlight in red, Especially the last sentence. Disclaimer?

Great!!! Make The crypto world better for all!!! BNB holder!!!

cz_binance Be true to your users. You will be NO.1 always.

cz_binance czhelpaax Good afternoon, do you know about the situation with the AAX exchange, which has over 3 million users? Can you help us please? CZBinance cz_binance

cz_binance PetrPospisil17

cz_binance where is your liabilities?

cz_binance why do you freeze accounts of people who report Binance for committing fraud?

cz_binance Ex Nihilo Ad Nilil When you pretend to create value from nothing The only place it can logically return is to nothing Both for the exchanges and the underlying product Just to add a bit more by way of a Latin Dictum Ex Nihilo Nilil fit Nothing comes from Nothing

cz_binance good

cz_binance Bro help me please, i need 1 btc just 1 btc 😢 🙏

Binance will be the last one standing from all these exchanges.

so regular busd is collatorized, while the wrapped one is not. check

cz_binance Well see! 🎰🎰🎰

cz_binance Nice twitterbusiness

cz_binance if you want to be a savior, save the miners..

yeah!.

wow!.

yea.

WOW!.

cz_binance This Is why i love Binance 😻

What is better investment ? Support CEX FTX and FTT who spreading bad word about Binance with 3B-(3000milion)$ or own decentralized BNBChain 888 project with 2m $ BNB in liquidity locked for 4 years plus 1.2m for current development! sisibinance heyibinance BinanceLabs

wow!.

WOW.!

yeah.!

yeah!.

You are not transparent. You are a government driven project, fully centralised and funded to gain overall control. The more you virtue signal, the more ppl will withdraw their tokens and money.

Shido SHIDOCHAIN ShidoFinance

From today I'm quite from crypto with all portfolio goes 81% down

擦你妹binance,我来掘赵长鹏祖坟鞭尸,垃圾公司毫无道德底线,任意下架交易对,害得我损失惨重,我诅咒你们不得好死,下十八层地狱

But USDT is still better now

cz_binance 'Your daily quotation limit is reached' Please try again later next day. I got this dialog today on Binance Convert & can't find anything about this anywhere! Could someone please tell me what the daily limits are and why they are not mentioned in the terms?

Alpine fun token coin 💥💥💥

Keep building

You automatically change stables deposited on your exchange to busd, giving liquidity to your own assets despite what users deposited. So, tecnically, you are using user funds for your own business

Busd withdrawal still requested on ftx.. thats life atm

12 week cbdc pilot

I hope for the help of the Binance team. I need funds as soon as possible. I have a lot of crises and I really want some money from Binance.

Ustc 😢😢😢😢😢😢

FTX was also fully regulated. What would happen if depeg? Would binance step in? For example, if bank run?

Speaking about transparency, you should mention that wrapped $BUSD is NOT regulated by the NYDFS.

When will we get protection?

regulated by whom?

You mean BUSD better then USDT ?

Nice project and congratulations to the team for their efforts and dedication and highly appreciated the visionary thought of the projector and it will create history コルナit will go to moon🚀🙌💜💜 TwitDogeAirdrop TwitDogeAirdrop TwitDogeAirdrop

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