Binance and Paxos Trust Company confirmed to Bitcoin Magazine that Binance's USD-backed "super-stable currency" will be available on16 sep. As the new stable coin, BUSD is designed "to be highly backed and fully convertible into USD at any time." Additionally, Bitcoin Magazine also learned that Binane's' main objective will be to create a long-term stable coin "with real growth potential."
“We minted out first batch of Binance U.S. dollars. It will be made available for trading starting next week [against] a few trading pairs such as BTC and BNB.”
Binance Coins are built for Binance's users to trade more efficiently between exchanges, and this will be especially important during times when it slows down market activity. Binance is no 1 exchange in terms of volume and bUsD will be listed along side other stable coins which are already listed on binance exchange.This is not the first stable coin binance has launched before this they created Binance GBP (BGBP).
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