All About BUSD February 02, 2021 00:26 Updated A 1:1 USD-Backed Stablecoin Approved By NYDFS With Paxos. BUSD is a 1:1 USD-backed stablecoin approved by the New York State Department of Financial Services (NYDFS). It is issued in partnership with Paxos and can be issued and redeemed without any extra fee. BUSD runs on both, Ethereum, as an ERC-20 token, and on Binance Chain as a BEP-2 token. BUSD is incorporated in multiple exchanges such as Binance.com (with trading discounts), Binance US, and other centralized exchanges. It is also tradable on popular non-custodial trading platforms, such as Binance DEX, Curve Finance, and Uniswap. Start Trading Now! Download Binance.US app here Related articles All About BUSD All About BNB List of Unsupported States All About Bitcoin (BTC) Binance.US to Retain 25% Trading Fee Discount When Using BNB