BUSD (busd) Price Index
The live price of BUSD is $0.99 per (BUSD / USD) today with a current market cap of $0.07B USD. 24-hour trading volume is $0.00B USD.BUSD to USD price is updated in real-time. BUSD is -0.48% in the last 24 hours. It has changed a market cap of $0.00B USD.
Live BUSD Price Chart
Overview: What is BUSD?
Binance USD (BUSD) is a 1:1 USD-backed stable coin issued by Binance (in conjunction with Paxos) (NYDFS), The BUSD Monthly Audit Report is available online. It aspires to combine the dollar's stability with blockchain technology. It is an ERC-20 token that supports BEP-2.
BUSD Ecosystem
In 2021, the BUSD ecosystem exploded. The stablecoin's market valuation climbed from over $1B at the start of 2021 to over $14.6B at the end. It is now the third largest stablecoin behind Tether and USDC. Wallets, platforms, services, DEXes, and CEXes that support BUSD have increased user adoption.
Wallets like Metamask, Trust Wallet, Trezor, Zapper and others now support BUSD. Platforms and services including Travala, Moonpay, Banxa, Wyre, and ivendPay and Paylot now support BUSD. Uniswap, 1inch, Curve Finance, Ellipsis, MDEX, SushiSwap, 0x, and many others also support BUSD. Users of centralized exchanges (CEXes) can use BUSD. US too, with FTX, Gate.io, WazirX, MEXC and others.
Those interested in yield farming and lending BUSD can do it on centralized exchanges like Binance, Blockfi, and Celsius. DeFi protocols like Venus and Aave allow users to earn yield on their BUSD. The BUSD ecosystem is described in detail here.
A brief overview of the history of Binance USD.
Binance USD was introduced in September 2019 as a stablecoin branded by Binance that promises to combine the dollar's reliability with blockchain technology. BUSD has gained support from major DeFi platforms, crypto wallets, and other services outside of Binance's control since its inception.
How Binance USD functions.
A Binance USD unit is created when US dollars are deposited on the Paxos network, ensuring that the stablecoin is backed 1:1 by US dollars. BUSD is issued on the Ethereum network as an ERC-20 token. In addition, Binance provides a Binance-Peg version of BUSD (not created by Paxos) for use in transactions on the Binance Smart Chain and Binance Chain blockchains, with compatibility for the BEP-2 and BEP-20 token standards.
What use does Binance USD serve?
Binance USD is used for transferring digital dollars, trading on exchanges, providing liquidity to DeFi platforms, and purchasing goods and services from merchants that accept the token, among other applications.