BUSD

We’re now pleased to announce that Binance-Peg BUSD is now available on Multichain. By this integration, users can bridge Binance-Peg BUSD to Polygon, Avalanche, and other blockchains through <a href="https://app.multichain.org/#/router" rel="noopener noreferrer nofollow">Multichain Cross-chain Protocol</a>. This support will not only boost Multichain’s cross-chain network but will also enhance users&#39; cross-chain experiences by allowing them to explore the Avalanche and Polygon ecosystems with BUSD more safely and efficiently.Besides, Binance-Peg BUSD has been chosen as one of the Multichain community&#39;s favorite assets to be shown in the default token suggestion section. Users will be able to choose Binance-Peg BUSD directly from the featured display to start cross-chain transactions via <a href="https://app.multichain.org/#/router" rel="noopener noreferrer nofollow">https://app.multichain.org/#/router</a>.<h2 id="header-0">About BUSD</h2>BUSD is a stablecoin issued by Paxos and approved by the NYDFS. BUSD is pegged to the US Dollar (USD) at a 1:1 ratio. This means that it’s available for purchase and redemption at a rate of 1 BUSD to 1 USD. Also, BUSD is green-listed by the NYDFS, making it pre-approved for trading and custody by any of the NYDFS virtual currency licensees.BUSD is a fiat-backed stablecoin. Paxos holds in custody the equivalent of the total supply of BUSD in US dollars. For every unit of BUSD issued, one US dollar is held in reserve in FDIC-insured US banks or in cash equivalents.Along with Paxos issuing BUSD on the Ethereum blockchain, Binance offers a wrapped BUSD token (Binance-Peg BUSD) on the other networks.Because of its intrinsic properties as a stablecoin, BUSD has performed exceptionally well and established itself as a leader in the cryptocurrency space. Since its launch in 2019, BUSD has achieved tremendous growth. And it is now an asset with a $22.8 billion market cap and ranking in the top 3 among all stablecoins.<h2 id="header-1">About Multichain</h2>Born as Anyswap on July 20th, 2020, Multichain is positioned as a decentralized cross-chain router to address the clear need for distinct and diverse blockchains to communicate with one another.Multichain promotes interoperability across different networks and actualizes smooth asset and value transfers as a cross-chain architecture. In addition, Multichain also powers the seamless data or message transmission across chains by anyCall, enabling the building of cross-chain Dapps.Multichain is the leader in the cross-chain sector, with a constantly growing family of EVM and non-EVM chains (currently 70) and deployed bridges (currently 2,900&#43;). Multichain, working hard to push the boundary of multi-chain, envisions being the ultimate router for Web3.Read more:<a href="https://multichainorg.medium.com/multichain-supports-binance-peg-busd-available-on-polygon-and-avalanche-a492c28065c4" rel="noopener noreferrer nofollow">https://multichainorg.medium.com/multichain-supports-binance-peg-busd-available-on-polygon-and-avalanche-a492c28065c4</a><a href="https://academy.binance.com/en/articles/what-is-multichain-multi" rel="noopener noreferrer nofollow">https://academy.binance.com/en/articles/what-is-multichain-multi</a>Note that BUSD is issued on Ethereum by Paxos and regulated by the New York State Department of Financial Services (NYDFS). Binance provides the pegged token service to lock BUSD on Ethereum and issues an equivalent amount of <a href="https://www.binance.com/en/blog/ecosystem/understanding-busd-and-binancepeg-busd-5526464425033159282" rel="noopener noreferrer nofollow">Binance-Peg BUSD</a> on the corresponding networks (BNB Chain, Avalanche and Polygon, etc.).  Binance-Peg BUSD is a Binance product. It is not issued by Paxos nor regulated by the NYDFS. Check out the <a href="https://www.binance.com/en/collateral-btokens" rel="noopener noreferrer nofollow">Proof of Assets page</a> for more information.

Binance-Peg BUSD Is Available on Multichain

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