BINANCE
Binance USD (BUSD)
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Binance USD (BUSD) was originally issued through a partnership between its namesake, cryptocurrency infrastructure provider Binance, and crypto asset exchange Paxos. It launched in 2017 and managed to reach a market capitalization peak of over $100 billion in 2021. As a company, Binance offers various other services in the digital asset space as well, including crypto wallets, savings accounts and even NFTs (non-fungible tokens).
In February 2023, Paxos announced it would stop minting new BUSD coins, though existing coins will remain "fully-backed and redeemable" through February 2024. Binance will also continue to support the sale of BUSD "for the foreseeable future."