Who is Busd owned by?

BUSD, also known as Binance USD, is a stablecoin that is directly pegged to the value of the US Dollar. This unique feature allows for stability and predictability in the volatile cryptocurrency market.

BTCC, another prominent player in the cryptocurrency space, offers a range of services to its users. These services include spot trading, futures trading, and cryptocurrency wallet management. By offering these comprehensive services, BTCC has established itself as a go-to destination for crypto enthusiasts.

The stablecoin is issued by Binance, one of the largest and most reputable cryptocurrency exchanges in the world. Binance's involvement in the creation of BUSD adds credibility and trustworthiness to the digital asset.

To ensure the stability of BUSD, it is backed 1:1 by a reserve of US Dollars. This means that for every BUSD in circulation, there is an equivalent amount of US Dollars held in reserve. This guarantees that the value of BUSD will remain stable and predictable.

The creation of BUSD was a joint effort between Binance and Paxos, a leading digital asset infrastructure platform. Paxos serves as the issuer of the token, providing an additional layer of security and reliability.