Binance USD (BUSD-USD)

Binance USD (BUSD) is a stablecoin promoted by the Binance cryptocurrency exchange. It is available for direct purchase and redemption at a rate 1:1 with the US dollar. The Binance coin is pegged to the US dollar - this means that it’s designed to always trade as close to $1 as possible. The stablecoin is issued in partnership with United States-based cryptocurrency company Paxos. Paxos launched the Paxos Standard (PAX) stablecoin in 2018 and gives businesses the option to launch branded stablecoins.