Stablecoins are assets backed by physical assets, most frequently by USD, the global fiat reserve currency. The oldest player in this market is Tether-issued USDT. Later on, others joined it: USD Coin (USDC), True USD (TUSD), Gemini Dollar (GUSD), PAX, etc.
Binance decided to join this club of dollar-backed coin emitters too.
The newly issued BUSD (Binance USD) coin has been approved by New York State Department of Financial Services (NYDFS).
Considering the popularity of stablecoins in the crypto market, the launch of BUSD trading against BNB is likely to add liquidity to both assets, especially to BNB. Binance Coin is already quite a popular investment tool, ranked seven on CoinMarketCap, while BUSD so far holds spot #287…