What is Binance USD (BUSD)?

Binance USD (BUSD) is the stablecoin developed and employed by the Binance exchange platform. BUSD is pegged at a 1:1 ratio to the U.S. dollar and was initially deployed on the BNB Chain. BUSD is also interoperable with other blockchains such as Ethereum, and can be used for various decentralized finance (DeFi) applications and value transfers between blockchains. BUSD is one of the largest USD-pegged stablecoins in the world with a market cap of approximately USD 18 billion (as of June 2022).