Buy Crypto
Pay with
Markets
NFT
New
Downloads
English
USD

BUSD Is Now Available on Avalanche And Polygon

2022-09-18

BUSD is available on multiple blockchains, including Ethereum, BNB Smart Chain, and BNB Beacon Chain. Now BUSD is also available on Avalanche and Polygon. BUSD support on Avalanche and Polygon provides traders with a fast and safe way to transfer the USD-backed stablecoin across different platforms. All users are now able to explore the Avalanche and Polygon ecosystem with BUSD more safely and efficiently. In the future, the BUSD team is committed to bringing more use cases into its ecosystem. Follow BUSD updates on CoinMarketCap.

The Binance-Peg BUSD smart contract address on Avalanche is: 

https://snowtrace.io/token/0x9C9e5fD8bbc25984B178FdCE6117Defa39d2db39

The Binance-Peg BUSD smart contract address on Polygon is

https://polygonscan.com/token/0x9C9e5fD8bbc25984B178FdCE6117Defa39d2db39

Note that BUSD is issued on Ethereum by Paxos and regulated by the New York State Department of Financial Services (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 page for more information.

About BUSD

BUSD is a stablecoin issued by Paxos and approved by the NYDFS. BUSD is pegged to the US Dollar (USD) at a 1:1 ratio. This means that it’s available for purchase and redemption at a rate of 1 BUSD to 1 USD. Also, BUSD is green-listed by the NYDFS, making it pre-approved for trading and custody by any of the NYDFS virtual currency licensees.

BUSD is a fiat-backed stablecoin. Paxos holds in custody the equivalent of the total supply of BUSD in US dollars. For every unit of BUSD issued, one US dollar is held in reserve in FDIC-insured US banks.

Along with Paxos issuing BUSD on the Ethereum blockchain, Binance offers a wrapped BUSD token (Binance-Peg BUSD) on the BNB Chain. Because of its intrinsic properties as a stablecoin, BUSD has performed exceptionally well and established itself as a leader in the cryptocurrency space. Since its launch in 2019, BUSD has achieved tremendous growth. And it is now an asset with a $20.5  billion market cap and ranking in the top 3 among all stablecoins.