The new Us dollar backed binance stablecoin called "BUSD" will be listed on the trading floor on September 16. This was announced by the co-founder of Paxos, taking part in the launch of the project, rich Theo at the Invest: Asia conference.
"We have released the first batch of American dollars Binance. They will be available for trading next week in pairs with assets such as BTC and BNB," he said.
Thus, starting next week, in addition to the already presented stablecoin, including USDT, USDC and PAX, Binance users will be able to access their own digital asset exchanges, characterized by increased exchange rate stability compared to conventional cryptocurrencies.
Paxos has obtained permission to issue BUSD from the new York state Department of financial services (NYDFS). "The launch of the NYDFS – approved stablecoin is Binance's strategic move to provide blockchain – based financial services to users around the world," Binance CFO Wei Zhou said.
Earlier, Binance released stablecoin BGBP, the rate of which is tied to the British pound. "In the future, we expect to launch more legal – standard-compliant stablecoins that will be backed by Fiat reserves to provide the cryptocurrency world with increased stability," Zhou added.
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