CRYPTO MINING BLOG

Binance Gets Stablecoin Busd Approval from New York State Regulator

The popular cryptocurrency exchange Binance received approval from the New York State Financial Services Authority for the stablecoin Binance USD (BUSD), pegged to the US dollar.

The launch of BUSD took place in September with the support of Paxos, the company responsible for keeping fiat reserves and issuing a “stable coin”. Currently, the market capitalization of Binance USD is $ 17.1 million (151th place in the CoinMarketCap ranking).

Binance also today launched unlimited contracts for the XRP token paired with USD with a leverage of up to 75x.

Among other things, Binance announced the delisting of several trading pairs with stablecoin USD Coin. ALGO / USDC, FTM / USDC, ONT / USDC, XLM / USDC, USDS / USDC will be deleted tomorrow, January 7th. However, the listed assets will be available for trading with other coins.

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