BUSD is a stablecoin pegged to the US Dollar (USD), issued by Paxos. Approved by the NYDFS, BUSD is available for purchase and redemption at a rate of 1 BUSD to 1 USD.

In addition, BUSD is green-listed by the NYDFS, making it pre-approved for custody and trading by any of the NYDFS’ virtual currency licensees.

BUSD is a fiat-backed stablecoin that maintains a U.S. dollar peg. For every unit of BUSD, there is one US dollar held in reserve. In other words, an amount of U.S. dollars equal to the total supply of BUSD is held in custody by Paxos, acting as its reserves in FDIC-insured U.S. banks.

To learn more, please refer to our articles:

Visit How to buy Binance USD (BUSD) guide to learn more details. On Binance, it provides over 300 tradeable BUSD pairs and various fiat gateways, making it easy to add BUSD to your portfolio.
To redeem or sell BUSD to US dollars, you can use the Binance Buy and Sell function. For large redemptions, contact the BUSD team.Or you can redeem through the Paxos platform directly.

Check out the current price of Binance USD here: Binance USD (BUSD) Price, Chart & News.

BUSD is issued on Ethereum by Paxos and regulated by the NYDFS. Binance provides the pegged token service to lock BUSD on Ethereum and issues an equivalent amount of Binance-peg BUSD on other networks. Check out the proof of assets for more details.

Binance-Peg BUSD is currently issued on these blockchains: BNB Smart Chain, BNB Beacon Chain, Avalanche, Polygon, Tron and Optimism – more integrations are expected to come soon.

On Binance, the world’s leading exchange, users can easily exchange BUSD to over 300 cryptocurrencies and enjoy great liquidity with appealing trading fees, including

- Zero maker fees. On Binance, there are over 300 BUSD spot and margin trading pairs that now offer zero maker fees for users who place orders on the order book. For market makers, they can enjoy appealing trading fees using BUSD.

- Zero transaction fees. Binance offers zero transaction fees on all BUSD stablecoin pairs. If users hold other stablecoins and want to switch to BUSD, the process is totally free with Binance.

- ETH/BUSD zero fees. There is a limited ETH/BUSD zero fees promotion offered on Binance from Aug 26 to Sep 26, 2022.

The primary risk of stablecoins is that many of them aren’t fully backed by the reserve currencies. BUSD is always backed 100% by cash reserves without any leverage. And the reserve is made by cash and cash equivalents. While BUSD is fully collateralized, its issuer-Paxos provides a transparent process for minting and burning BUSD tokens. In addition, BUSD reserves are regularly attested by a trusted auditor to ensure users will be able to access the collateral that backs BUSD whenever needed. You can visit our website to check out these reports.

Furthermore, BUSD commits to high standards, including working with regulators to maintain a license and be fully regulated. BUSD is issued by Paxos, a partner of Binance. Both Paxos, as the issuer, and the BUSD stablecoin, are regulated by the New York State Department of Financial Services (NYDFS), a leading regulator in this area. BUSD is also green-listed by the NYDFS, making it pre-approved for custody and trading by any of the NYDFS’ virtual currency licensees.

Last but not least, BUSD offers users the highest levels of safety, protection, and security. In addition to being regulated by the NYDFS, BUSD is subject to the New York Banking Law. That law states that in the unlikely event that Paxos Trust becomes insolvent, it will not go through the standard bankruptcy procedures like other companies.

Instead, the Superintendent of NYDFS would return assets held in custody by Paxos Trust to their rightful owners. Paxos Trust holds customer assets safely separated from any corporate funds as a qualified custodian. This way, our customers can be sure that their assets will always be available at any time.