Latest Binance USD updates on March 28th

Paxos, a cryptocurrency project, has been making several announcements and updates in the past weeks. On March 27th, Madan Nagaldinne will participate in the Transform2023 event in Las Vegas to share insights on the blockchain infrastructure Paxos is building. On March 22nd, the company announced it experienced accelerated growth in the past months, and on March 21st, they mentioned the benefits of tokenization. They are also a remote-first company and have a network of banking partners. In light of the recent developments with Silvergate Bank, they discontinued SEN transfers and wires on March 2nd and stated they have no material exposure to Silvergate. They remain prudent risk managers, holding more than 90% of stablecoin reserves in short-term US Treasury bills. Overall, they continue to strive to redefine financial infrastructure and make it seamless for consumer finance companies to move into the Web3 and the crypto space.

What is Binance USD ?

Binance USD (BUSD) is a stablecoin issued by Paxos Trust Company and is backed 1:1 by the US dollar. BUSD is a regulated, digital alternative to the US dollar, designed to offer the same security, stability and liquidity of the US dollar, but with the added benefit of blockchain-enabled trading and transactions. BUSD is fully compliant with US regulations, and is the first stablecoin to be approved and regulated by the New York State Department of Financial Services (NYDFS).

BUSD is a great way for users to avoid the volatility of the crypto markets, while still being able to access the benefits of blockchain technology. It can be used for trading and transactions on a variety of platforms, including the Binance exchange. It can also be used for merchant payments, loans, and more.

BUSD is a secure and reliable way to store value, and is backed by a reserve of USD held with Paxos Trust Company, which is subject to regular audits by Withum, an independent public accounting firm. This ensures that BUSD can be exchanged 1:1 for USD at any time.

BUSD is easy to use, and can be bought and sold on the Binance exchange. It can also be purchased directly from Paxos, and is available in the Paxos Wallet app. BUSD can be used to buy, sell, and trade other crypto assets, making it a great way to diversify a portfolio.

BUSD is a great way to get exposure to the crypto markets without having to worry about price volatility. It is a safe, reliable, and secure way to store and transfer value, and is fully compliant with US regulations. With its low fees and fast transactions, BUSD is a great option for users looking for a stablecoin to use for trading and transactions.

This article was published on 2023-01-29 by Marc Endevor. Information shown in this article was gathered from the project’s website and Twitter account. Coinvestigate cannot guarantee the accuracy of this information, or any news that may have impacted the project in the meantime.