During this short period of time the project team managed to undermine over 1 billion BUSD in just 261 days.
It was September 2019 when this stablecoin was launched, which over time received the approval of the New York Department of Financial Services (NYDFS). Binance emphasizes that its stablecoin is highly regulated.
The numbers of BUSD, the Binance stablecoin
During this year, in collaboration with Paxos, pairs with Bitcoin (BTC), Binance Coin (BNB) and Ripple (XRP) were introduced.
The numbers of BUSD are impressive, since there are in total 2.4 billion BUSD, over 155 thousand users who have BUSD (counting only those on Binance), is traded with 97 pairs and over 30 exchanges have listed it.
To trade with BUSD the maker fee is zero at Binance.
In addition, the exchange emphasizes that BUSD undergoes regular audits, which helps to ensure a perfect 1-to-1 match with the underlying U.S. dollar.
BUSD and DeFi
In the post Binance points out that, only last month, as many as 2 million BUSDs have been added in the decentralized Uniswap protocol for Tether (USDT) and USDC pairs.
This is because, especially in decentralized finance (DeFi), stablecoins are becoming a very important tool that often allows interesting returns, as we have seen in the case of the Yearn Finance (YFI) project.
BUSD can also be found on various protocols such as Etoro, which guarantees about 9% APY on deposit, on Curve Finance where it guarantees 28%, not to mention the various liquidity pools on Uniswap, 1inch, Mooniswap, Paraswap and Bepswap and many others.
The stablecoins are also an excellent tool for traders, being able to change their crypto without going through their bank, removing the problem of volatility.