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Usha Yadav
Sep 10, 2022
by Usha Yadav

BUSD Surpasses The $20 Billion Market Cap Milestone

BUSD

Table of contents

  1. BUSD Created By Paxos
  2. Popular Choice Of Stablecoin Among Users
In the three years after its launch, BUSD has developed into one of the cryptocurrencies with the quickest growth rates. The stablecoin offers a range of services, including loans, payment, and trading, and is also expanding its use cases with several partners.

BUSD Created By Paxos

BUSD is a stablecoin created by Paxos that is 1:1 USD-backed, safe, and compliant and has been authorized by the New York State Department of Financial Services (NYDFS). Binance offers a pegged BUSD token (Binance-Peg) on BNB Chain and other blockchains, and Paxos provides the stablecoin for the Ethereum blockchain.

"We are excited to announce that BUSD has reached its $20B milestone, ranking sixth in the crypto market and third among stablecoins by market cap."

Popular Choice Of Stablecoin Among Users

The market value of the stablecoin increased from $1 billion to $20 billion in three years. As of September 1, approximately 4 million holders preferred it due to its tight compliance requirements and low transaction costs.

The focus on its compliance strives to maintain the confidence of regulators and stablecoin users. Thanks to cryptocurrency, a wider audience will have additional possibilities to work together to make stablecoins a significant asset class in the global economy. The BUSD team will collaborate with industry titans from the financial spectrum's decentralized, centralized, and traditional ends.

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BUSD Surpasses The $20 Billion Market Cap Milestone
Usha Yadav
Usha is a diehard crypto enthusiast and has been actively writing on different facets of the blockchain and crypto world. She has authored many research articles on cryptocurrency and aims to provide informational and quality content to readers. She firmly believes that crypto has a great potential to redefine the world of finance and blockchain.

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