BUSD

Binance USD (BUSD) is a fiat-backed stablecoin designed to maintain a one-to-one exchange rate with the US dollar, meaning one BUSD is intended to always be redeemable for one USD. It was approved by the New York State Department of Financial Services, a regulatory milestone that set it apart from many early stablecoins. It is aimed at people who want to move value in dollar terms across blockchain networks without holding a volatile asset.

BUSD is a fiat-backed stablecoin, meaning each token in circulation is meant to be matched by a US dollar held in reserve by the issuer, allowing users to redeem tokens directly at a fixed rate. It exists within the Ethereum ecosystem, so transfers settle on that network according to its own rules. No consensus algorithm is native to BUSD itself; it relies entirely on the underlying blockchain it is deployed on and on the issuer's reserve management to maintain its peg.

The data stored for BUSD records no fee stream attributable to the protocol, which means the fee-based performance measures commonly found on this site are not applicable here. The stablecoin model generates no on-chain revenue that is captured in these metrics; any economic return to the issuer would come from interest earned on the dollar reserves held off-chain, which is not reflected in the figures presented. The circulating stablecoin supply stands at 34,446,750.33 on a point-in-time basis, and the 30-day supply change is recorded at 0.0, indicating no net issuance or redemption over that period.