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BUSD: $100 Million Total Supply/Market Cap, $416 Million Tokenized.


Today, we celebrate a milestone in Binance USD (BUSD) history. Six months after its launch as Binance’s official US dollar-backed stablecoin, BUSD has surpassed the $100 million mark for its total supply and market cap.

As of March 11, a total of 416 million BUSD has been purchased (also known as minted or tokenized), whether through Binance, Paxos, or the 45 exchanges where BUSD can be purchased and/or traded. More than 40,000 users are holding BUSD on Binance and Binance.US, and our user base has been increasing by 20%-30% weekly.

BUSD has taken a remarkable momentum over the past few months. The stablecoin started this year with a $17 million market cap and has grown by leaps and bounds, as its market cap rose 571% in 60+ days. This reflects how much the community that supports BUSD has grown, boosted by its acceptance into more areas in the crypto industry.

Looking closely, the market cap of BUSD is ranked No. 6 in the stablecoin market, with a slight difference of around $17 million from the No. 4 stablecoin, according to data from Etherscan and CryptoSlate. We aspire to rise further in these rankings and overtake more stablecoins soon. 

On BUSD’s increasing traction, Binance CEO Changpeng Zhao (‘CZ’) commented, “BUSD’s market cap crossing $100 million is a big milestone for Binance, illustrating the strong need and use of alternative assets in the market. We are looking forward to seeing more utility through the power of stable digital assets and serving our part with BUSD, a NYDFS-approved USD-based stablecoin.”

The team behind BUSD has worked hard over the past six months, since the stablecoin’s launch in September 2019, to offer a compelling solution that connects fiat and crypto. We share how BUSD has shown relentless through partnerships established, features developed, and use cases cultivated. 

Origins of BUSD and Expansion within Binance Ecosystem

On September 5, 2019, Binance partnered with Paxos to create BUSD, a USD-denominated stablecoin that has gained the approval of the New York State Department of Financial Services (NYDFS) from the get-go. BUSD was initially available on the Binance and Paxos platform for direct purchase and 1:1 redemption for U.S. dollars and can be traded on for BTC, BNB, or XRP. The stablecoin is audited by nationally-ranked public accounting firm Withum.

Since then, we’ve sought to provide several compelling reasons for using BUSD as the stablecoin of choice within and beyond the Binance ecosystem. Right now, Binance features 48 trading pairs for BUSD, providing several opportunities for trading with not just cryptocurrencies but also leveraged tokens on the world’s biggest crypto marketplace. We also have a one-click buy and sell platform where you can buy BUSD using 8 fiat options (USD, EUR, CNY, RUB, VND, GBP, JPY, CAD), from credit cards to wire transfer and financial institutions.

We then incorporated the use of BUSD into the rest of the Binance ecosystem. During the past few months, we have:

  • Launched and then extended a zero maker fee promotion for BUSD, which will run until June 6.

  • Launched several Binance Lending products that allow you to deposit BUSD and earn up to 15% in annual interest from your holdings.

  • Set the lowest interest rate for borrowing BUSD on Binance Margin Trading.

  • Enabled the use of BUSD as an asset for cross collateral on Binance Futures.

  • Introduced BUSD trading pairs on our global P2P platform, for trading against the Chinese yuan (CNY), Vietnamese dong (VND), and Russian ruble (RUB).

  • Launched a stablecoin convert function allowing users to instantly convert from other stablecoins into BUSD. The ratio to convert PAX, USDC, and TUSD into BUSD is set at 1:1 with zero fees. 

Meanwhile, our fiat-to-crypto exchange Binance.US has recently ramped up its adoption of BUSD. The exchange has added seven BUSD trading pairs and recently launched an onramp for crypto users to deposit USDC onto Binance.US and convert that into BUSD at the rate of 1:1 with zero fees.

Beyond Binance: An Increasingly Attractive Stablecoin Option

Since its launch in September 2019, BUSD has found support from many companies, projects, and institutions within the crypto industry, as well as beyond it. As a fully regulated stablecoin that serves as a safe bridge between fiat and crypto, BUSD has many uses for the financial industry, from accounts settlement and wealth management to decentralized finance. BUSD also has use case applications for global payments, powered by its automated minting process and fast, no-limit redemption. 

Rich Teo, Co-Founder and CEO of Paxos Asia, added, “The spectacular growth of BUSD shows that the market is hungry for an alternative. We're excited about this milestone and proud to partner with Binance to deliver an optimal solution for our global users.”

Aside from its utility in the Binance exchange, BUSD can also be used for value transfers across the BNB Chain and Ethereum blockchains, as well as for gift cards, and even donations to Binance Charity, with full online payment support coming soon.

As a stablecoin, BUSD offers advantages such as greater transparency from its fully regulated status, price stability from a fixed 1:1 redemption ratio with matching bank deposits backing up transactions, scalability, and adoption from its use within the Binance ecosystem and its extensive partnerships, and borderless transfers powered by blockchain. 

What are we going to do next? We will focus on building a strong distribution channel with a revenue-sharing model, and we will also enable more payments and DeFi solutions. We will continue upgrading BUSD according to the needs of our users and the market, in our mission to ride the momentum BUSD recently showed and grow it into a top stablecoin.

We are looking for more partners who can sell, accept, use, or otherwise help grow BUSD. Email us at or visit our website for more information. Join us to grow and use BUSD.