Why is BUSD considered a stablecoin and who is its issuer?

3 answers

• Amir2 GhJan 18, 2024 · 2 years ago
  BUSD is considered a stablecoin because its value is pegged to the US dollar. This means that for every BUSD token in circulation, there is an equivalent amount of US dollars held in reserve. The issuer of BUSD is Binance, one of the largest and most reputable cryptocurrency exchanges in the world. Binance ensures the stability of BUSD by regularly auditing and verifying the reserves to maintain a 1:1 ratio with the US dollar. This makes BUSD a reliable and trustworthy digital asset for users who want to avoid the volatility of other cryptocurrencies.
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• Elie MatshiAug 14, 2021 · 4 years ago
  BUSD is a stablecoin because its value is designed to remain relatively stable compared to other cryptocurrencies. It achieves this stability by being backed by a reserve of US dollars, which ensures that the value of BUSD is always equivalent to the US dollar. The issuer of BUSD is Binance, a well-known and trusted cryptocurrency exchange. Binance has a strong reputation in the industry and is committed to maintaining the stability and integrity of BUSD. As a result, BUSD is widely accepted and used in the cryptocurrency market as a reliable and secure digital asset.
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• Riad BoutriaMar 12, 2023 · 2 years ago
  BUSD is considered a stablecoin because it is backed by a reserve of US dollars. The issuer of BUSD is Binance, a leading cryptocurrency exchange known for its secure and reliable services. Binance ensures the stability of BUSD by regularly auditing the reserves and maintaining a 1:1 ratio with the US dollar. This means that for every BUSD token in circulation, there is an equivalent amount of US dollars held in reserve. As a user, you can trust BUSD as a stable and secure digital asset that provides a convenient way to store and transfer value without the volatility associated with other cryptocurrencies.
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