Binance branded stablecoin, Binance USD (BUSD), is a buck-backed stablecoin issued by blockchain infrastructure platform Paxos Have faith Company, and is the third biggest stablecoin after Tether’s (USDT) and Circle’s USD Coin (USDC).
Paxos has claimed within the past that BUSD is entirely backed by reserves held in either fiat cash or United States Treasury payments. BUSD became once reportedly licensed and controlled by the Unique York Train Division of Financial Services and products (NYDFS).
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