Binance stablecoin capitalization exceeded $ 100 million, rising …

Binance stablecoin capitalization exceeded $ 100 million, up 400% in a month

March 10 stablecoin market capitalization Binance USD (BUSD) exceeded $ 100 million for the first time. Financial instrument was released exchange Binance in collaboration with company Paxos trust.

Binance stablecoin capitalization exceeded $ 100 million, rising ...

IN present time BUSD is an the sixth largest stablecoin on the market by capitalization indicator. Per last month value increased by 400% – from $ 22 million up to $ 115 million. It corresponds to the volume of dollar reserves deposited in the issuer’s accounts.

Binance CEO Changpeng Zhao is confident that this trend will be persist due to the increased demand for such tools. “We look forward to increasing the practical value of stable digital assets and are doing our part with BUSD, a NYDFS-approved stablecoin based on dollar USA“, – stated is he.

Lion’s share trades with BUSD happens on Binance itself. About 40% of they are paired with unconditional the leader Tether stablecoin space, yet 35% – with bitcoin. When this USDT paired with bitcoin on Binance in the last 24 hours attracted volumes trades above $ 600 million, then like BUSD in that the same couple – only $ 16 million.

“Outstanding growth of BUSD reflects greedy interest market to an alternative, ”said Paxos co-founder Rich Teo. – We’re glad this achievement and proud to partner with Binance in securing optimal solutions for users in all over the world “.

Binance Clients may earn up to 15% annual on assets at BUSD by participating in the exchange’s regular lending program. Coinbase, for example on your stablecoin USDC offers 1.25% per annum.

Earlier, Tether CTO Paolo Ardoino told how him the company earns on reserves, the amount which approaching $ 5 billion.

Binance stablecoin capitalization exceeded $ 100 million, rising ...