Binance USD (BUSD) is a stablecoin issued by [[Binance]], the world's largest cryptocurrency exchange, in partnership with Paxos. It's pegged to the US dollar, meaning 1 BUSD is designed to be worth $1 USD. This stability makes it useful for trading and transacting within the crypto world without the volatility of other #cryptocurrency like [[Bitcoin]]. BUSD is approved by the [[New York State Department of Financial Services (NYDFS)]], providing an additional layer of regulatory compliance and trust.