The worlds largest cryptocurrency exchange Binance are going to launch BUSD their own stablecoin pegged to the US dollar. The new coin has been approved by the New York State Department of Financial Services (NYDFS), who previously had been very strict with cryptocurrency companies. According to Binance CEO, Changpeng Zhao the coin will be used to “unlock more financial services”. The stablecoin will be up for direct purchase and redemption on the Paxos platform, as well as for trading on Binance.com later this month. The coin will trade against three cryptocurrencies, bitcoin (BTC), Binance coin (BNB) and XRP. Elsewhere, Binance is also preparing to launch Venus, which is said to be similar to Facebook’s upcoming stablecoin Libra. Yi He, the co-founder of Binance said “We believe that in the near and long term, stablecoins will progressively replace traditional fiat currencies in countries around the world, and bring a new and balanced standard of the digital economy.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next EUR/USD eases from tops, still well bid above mid-1.1000s post-US ISM PMI FX Street 4 years The worlds largest cryptocurrency exchange Binance are going to launch BUSD their own stablecoin pegged to the US dollar. The new coin has been approved by the New York State Department of Financial Services (NYDFS), who previously had been very strict with cryptocurrency companies. According to Binance CEO, Changpeng Zhao the coin will be used to "unlock more financial services". The stablecoin will be up for direct purchase and redemption on the Paxos platform, as well as for trading on Binance.com later this month. The coin will trade against three cryptocurrencies, bitcoin (BTC), Binance coin (BNB) and XRP. Elsewhere, Binance… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
