Binance USD Price (BUSD INR)

About Binance USD

Binance USD or BUSD is a wrapped or fiat-backed stable coin pegged to the US dollar. BUSD is a wrapped token, which is often described as a blockchain token pegged to the value of another asset such as fiat currency, treasure stones, equity shares, or real estate.

Founded by Paxos and Binance, Binance USD is one of the few stablecoins that are compliant with the New York State Department of Financial Services (NYDFS) regulatory standards.

Just as with other wrapped stable coins, BUSD was created to ensure ease of transaction within the decentralised finance (DeFi) ecosystem and while it is inbuilt compliance with the ERC-20 token standard with support for BEP-2 wallet, the fiat-backed stablecoin is interoperable with multiple blockchains.