Binance USD (BUSD) – Paxos

Binance USD (BUSD)
A new stablecoin, issued in partnership with Binance
Get BUSD 1:1 for U.S. dollars or PAX on the Paxos platform
Use BUSD to trade crypto on Binance 
Hedge against the volatility of your crypto-assets by holding in BUSD, as stable as the dollar
Use BUSD wherever ERC-20 tokens are accepted for commerce, loans, payments, etc.
Convert between U.S. dollars, BUSD and PAX 1:1 anytime with zero fees
BUSD was created in partnership between the largest and most trusted companies in the crypto space.
Paxos and BUSD are approved and regulated by the New York State Department of Financial Services, ensuring the utmost of consumer protections.
BUSD is 100% backed by reserves held in either or both (i) fiat cash in dedicated omnibus accounts at insured U.S. banks and/or (ii) U.S. Treasury bills (including through repurchase agreements and/or money-market funds invested in U.S. Treasury bills). 
A top auditing firm will attest to the matching supply of BUSD tokens and underlying U.S. dollars on a monthly basis.
Binance USD (BUSD) is a new USD-denominated stablecoin approved by the New York State Department of Financial Services (NYDFS) that will be launched in partnership with Paxos and Binance.
Starting September 12, 2019, BUSD will be available on the Paxos platform for direct purchase and redemption 1:1 for U.S. dollars or PAX. Later in September it will become available on for trading initially against BTC, BNB and XRP and more to come. 
Paxos is the USD custodian and issuer of BUSD. 
BUSD is now available for purchase and redemption on the Paxos platform. In order to get BUSD through Paxos, you need to be a verified customer. You can either deposit PAX or deposit dollars by wire from a bank account.
Just like with PAX, there are no fees associated with creating or redeeming BUSD.
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