Binance will list its USD Binance (BUSD) Stablecoin next week

Binance announced the listing of his stablecoin BUSD, which will be "hooked" to the value of the US dollar.

As reported by the financial director of Binance Wei Zhou e Richmond Teo, co-founder and CEO of the Paxos Trust Company, the BUSD stablecoin will be available to the public starting next week.

Binance has announced the listing of the Binance USD

The launch of a stablecoin approved by the Department of Financial Services of the New York State (NYDFS) is a strategic step for theExchange Binance: this allows us to offer financial services of great added value to users all over the world.

"We are happy to work with Paxos, the leader in digital services, and we hope to launch, for the near future, more compliant and linked to legal reserves"Stressed Wei Zhou.

This will allow for greater stability in the world of cryptocurrencies.

Richard Teos stressed in this regard:

"We are thrilled that the BUSD stablecoin debuts on Paxos. This is a product that can bring stability and transparency to cryptocurrency markets globally.

Paxos' stablecoin as a service offering enables Binance to adopt a reliable and regulated approach to proceed with the creation of stablecoin for its users ”.

Il BUSD has reduced regulatory barriers to issuing in the New York Department of Financial Services (NYDFS).

This is an advantage for the Exchange Binance and will add a balance factor to the non stablecoin.

Binance and its reputation in the stablecoin sector

Binance already has some experience in issuing stablecoin even though the last one issued is not linked to the US dollar.

Binance GBP (BGBP) it was issued and listed starting from July 2019.

The Binance stablecoin, supported by the dollar, created in collaboration with Paxos Trust Company, will be made available on the Exchange starting from the 16 September 2019.