BUSD
Binance USD
active
Fiat Backed
USD
Market Cap $283M
BUSD was a USD-pegged stablecoin issued by Paxos Trust Company, LLC under the Binance USD brand. Paxos halted new issuance in February 2023 after direction from NYDFS and began winding down the product.
Key Data
| Backing | USD-denominated reserves held in segregated bankruptcy-remote accounts |
| Auditor | KPMG LLP |
| Reserve Reporting | Attestation |
| Redemption | Paxos stated in February 2023 that BUSD would remain fully supported and redeemable to onboarded customers through at least February 2024, either for U.S. dollars or conversion to Pax Dollar. |
| KYC Required | Yes |
| Peg Currency | USD |
Supported Networks
L1 EVMEthereum
Cross-Chain Supply ($37M total)
Regulatory Status
Use Cases
TradingSettlement
Overview
BUSD was a USD-pegged stablecoin issued by Paxos Trust Company, LLC under the Binance USD brand. Paxos halted new issuance in February 2023 after direction from NYDFS and began winding down the product.
Key Features
- Paxos-issued USD stablecoin associated with Binance brand
- NYDFS-supervised issuer
- New issuance halted in February 2023
- Monthly reserve reports no longer proactively provided during wind-down
Reserve Backing
USD-denominated reserves held in segregated bankruptcy-remote accounts.
Supported Networks
Available on Ethereum.
Other USD Stablecoins
Profile compiled from issuer disclosures, regulatory filings, press releases, and financial media. Market and on-chain data sourced directly or via third-party providers. See methodology.