BUSD, the crypto
Binance USD (BUSD) is a USD-backed stablecoin issued by Binance, one of the largest cryptocurrency exchanges in the world.
The main point of Binance USD (BUSD) is to provide users with a stablecoin that is pegged 1:1 to the US dollar and can be used for trading, investing or paying for goods and services without worrying about the volatility of other cryptocurrencies.
Binance USD (BUSD) tries to solve the issue of volatility in cryptocurrencies by providing a stablecoin that is backed by actual US dollars held in reserve, giving users a reliable and stable value for their digital assets. It also provides a more liquid form of fiat currency for trading on the Binance exchange.
We used an AI to answer three questions about BUSD, so take this info with a grain of salt.