BUSD is a stablecoin, backed 1:1 with US dollars held in reserve. It is also pegged to the US dollar, always trying to maintain the value of 1 USD. BUSD is issued by Binance and Paxos, and approved and regulated by the New York State Department of Financial Services (NYDFS). Every month, a report is issued proving the backing of the token, giving investors more confidence in the coin. Compared to other stablecoins, the process of maintaining BUSD's peg to the US dollar is relatively straightforward. Each BUSD token is exchangeable for one US dollar from their reserves. When Paxos receives BUSD, they burn it and give the sender the corresponding amount in fiat currency, ensuring that supply and reserves remain at a constant 1:1 ratio.BUSD is an ERC20 token built on the Ethereum blockchain. It also supports BEP-2, which is a technical standard used for creating and transferring new digital assets on the Binance Chain. This versatility allows BUSD to cater to a wider range of users, making it a more accessible option in the digital asset market.
Binance USD (BUSD) price history shows the highest value of 1.00 USD . We recorded this price on May 16, 2023, but we cannot exclude that a higher price was registered before March 20, 2023.