description Binance USD (BUSD) Overview
Binance USD (BUSD) is a stablecoin issued in partnership with Paxos Trust Company. It's designed to maintain a 1:1 peg with the US dollar and is backed by reserves held by Paxos. BUSD is widely supported on the Binance exchange and other platforms, offering opportunities for earning interest through Binance Savings or other DeFi protocols. While centralized, it benefits from Binance's infrastructure and regulatory compliance efforts.
However, centralization introduces counterparty risk.
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