We’re proud to announce that as of today, the new stablecoin Binance USD (BUSD) is now available on the Paxos platform. As we announced last week, BUSD was developed in partnership with Binance and approved for our issuance by the New York State Department of Financial Services. This means that BUSD is among the very few regulated crypto-assets, ensuring that any assets held in BUSD have the highest protections available. This is an exciting step towards bringing greater stability and transparency to crypto markets.
On the Paxos platform, verified customers can always buy/redeem BUSD 1:1 for U.S. dollars, with zero fees. The week of September 16, it will be available on the Binance exchange and initially trading against BTC, BNB and XRP with more to come soon.