Binance USD BUSD Price 1.00

The trading volume in 24 hours was 14,264,358USD. Over the course of the day, the asset has grown. The coin has a market cap of $68,321,448USD and has 0 coins in circulation. BUSDs are backed by 1 US dollar in US bank accounts owned by Paxos. BUSD is one of three stable coins approved by Wall Street regulators. During the development, it was also revealed that NYDFS has approved a new offering that Binance is launching in partnership with Paxos. If the user wishes to redeem the BUSD, they can send the token to an address controlled by Paxos, which will destroy the token and transfer the currency to the user's bank account. There are 1,485,072 BUSD coins in circulation. Paxos can generate any number of busds. When depositing money, BUSDS are created. The token is subject to immediate destruction when exchanged for money. The price is stable because the amount of BUSD in circulation corresponds to the number of reserve dollars. Paxos is the only organization that can change the turnover of BUSD token.