Finally, as alluded to earlier, the primary reason why people around the world use BUSD is because it is backed by an equal amount of USD. Paxos ensures the value of BUSD by performing regular audits to ensure the US dollar reserves held is equal to the supply of BUSD at a ratio.

These audits are carried out alongside Withum, an accounting firm. Many other stablecoins do not offer these assurances to their users. Therefore, the strict regulatory standards that BUSD adhere to set a new industry standard, making BUSD one of the best choices when it comes to stablecoins. Since BUSD is one of the only stablecoins that is 1 subject to regular third party audits and 2 strictly regulated to maintain a BUSD to USD ratio, it is considered by many to be one of the safest stablecoins available on the market.

For example, certain hotels offer their guests the chance to book a stay using a QR code that allows users to pay using BUSD. In the crypto industry, new partnerships have also emerged for BUSD including BitPay, Simplex, Moonpay, Alchemy and several more. In fact, Binance has recently released Binance NFT which supports BUSD quotations for NFT products.

With more than thirty-six other established exchange platforms and more than twenty wallets supporting BUSD, trading with stablecoins continues to become easier for anyone anywhere. The amount of users that choose to work with BUSD has grown exponentially as the stablecoin enjoys rising adoption and interest from users.

In the summer of , the amount of daily active addresses averaged between ten and fifteen thousand, while the total number of BUSD holders is roughly 1. BUSD is one of the few stablecoins that are highly regulated. In addition, it is very accessible and can be used for different trading and investing strategies.

Read the following helpful articles for more information:. Support What Is Multi-Assets Mode? Blog BUSD: A Case Study for Stablecoin Compliance and Security. Blog 3 Reasons Why You Should Trade BUSD-margined Futures Contracts. Academy What is BUSD? Academy What Are Stablecoins? Binance Blog. It was only after Mexican independence in when their peso's fine silver content of later had to compete with using a heavier The early currency of the United States did not exhibit faces of presidents, as is the custom now; [42] although today, by law, only the portrait of a deceased individual may appear on United States currency.

The last coins to be converted to profiles of historic Americans were the dime and the Dollar After the American Revolution , the thirteen colonies became independent. Freed from British monetary regulations, they each issued £sd paper money to pay for military expenses. The Continental Congress also began issuing "Continental Currency" denominated in Spanish dollars.

For its value relative to states' currencies, see Early American currency. Continental currency depreciated badly during the war, giving rise to the famous phrase "not worth a continental". Additionally, neither Congress nor the governments of the several states had the will or the means to retire the bills from circulation through taxation or the sale of bonds.

It gave rise to the phrase "not worth a continental", and was responsible for the clause in article 1, section 10 of the United States Constitution which reads: "No state shall make anything but gold and silver coin a tender in payment of debts".

From implementation of the Mint Act to the implementation of the gold standard the dollar was on a bimetallic silver-and-gold standard, defined as either Subsequent to the Coinage Act of the dollar's fine gold equivalent was revised to The same act also resolved the difficulty in minting the "standard silver" of The Act also limited the free silver right of individuals to convert bullion into only one coin, the silver dollar of Summary and links to coins issued in the 19th century:.

In order to finance the War of , Congress authorized the issuance of Treasury Notes , interest-bearing short-term debt that could be used to pay public dues. While they were intended to serve as debt, they did function "to a limited extent" as money. Treasury Notes were again printed to help resolve the reduction in public revenues resulting from the Panic of and the Panic of , as well as to help finance the Mexican—American War and the Civil War.

Paper money was issued again in without the backing of precious metals due to the Civil War. However, by December , the Union government's supply of specie was outstripped by demand for redemption and they were forced to suspend redemption temporarily. In February Congress passed the Legal Tender Act of , issuing United States Notes , which were not redeemable on demand and bore no interest, but were legal tender , meaning that creditors had to accept them at face value for any payment except for public debts and import tariffs.

However, silver and gold coins continued to be issued, resulting in the depreciation of the newly printed notes through Gresham's Law. In , Supreme Court ruled in Hepburn v. Griswold that Congress could not require creditors to accept United States Notes, but overturned that ruling the next year in the Legal Tender Cases. In , Congress passed the Specie Payment Resumption Act , requiring the Treasury to allow U.

Notes to be redeemed for gold after January 1, Though the dollar came under the gold standard de jure only after , the bimetallic era was ended de facto when the Coinage Act of suspended the minting of the standard silver dollar of This was the so-called "Crime of '73". The Gold Standard Act of repealed the U. dollar's historic link to silver and defined it solely as In , gold coins were confiscated by Executive Order under Franklin D.

After a series of revisions to the gold peg was implemented, culminating in the Nixon Shock of August 15, , which suddenly ended the convertibility of dollars to gold.

dollar has since floated freely on the foreign exchange markets. Congress continued to issue paper money after the Civil War, the latest of which is the Federal Reserve Note that was authorized by the Federal Reserve Act of Since the discontinuation of all other types of notes Gold Certificates in , Silver Certificates in , and United States Notes in , U. dollar notes have since been issued exclusively as Federal Reserve Notes.

dollar first emerged as an important international reserve currency in the s, displacing the British pound sterling as it emerged from the First World War relatively unscathed and since the United States was a significant recipient of wartime gold inflows. After the United States emerged as an even stronger global superpower during the Second World War , the Bretton Woods Agreement of established the U.

dollar as the world's primary reserve currency and the only post-war currency linked to gold. Despite all links to gold being severed in , the dollar continues to be the world's foremost reserve currency for international trade to this day. The Bretton Woods Agreement of also defined the post-World War II monetary order and relations among modern-day independent states , by setting up a system of rules, institutions, and procedures to regulate the international monetary system.

The agreement founded the International Monetary Fund and other institutions of the modern-day World Bank Group , establishing the infrastructure for conducting international payments and accessing the global capital markets using the U. It was founded in under the Federal Reserve Act in order to furnish an elastic currency for the United States and to supervise its banking system, particularly in the aftermath of the Panic of For most of the post-war period, the U.

government has financed its own spending by borrowing heavily from the dollar-lubricated global capital markets, in debts denominated in its own currency and at minimal interest rates. This ability to borrow heavily without facing a significant balance of payments crisis has been described as the United States 's exorbitant privilege. The United States Mint has issued legal tender coins every year from to the present. From to the present, the only denominations produced for circulation have been the familiar penny, nickel, dime, quarter, half dollar, and dollar.

Gold and silver coins have been previously minted for general circulation from the 18th to the 20th centuries. The last gold coins were minted in The United States Mint currently produces circulating coins at the Philadelphia and Denver Mints , and commemorative and proof coins for collectors at the San Francisco and West Point Mints. Mint mark conventions for these and for past mint branches are discussed in Coins of the United States dollar Mint marks.

The one-dollar coin has never been in popular circulation from to present, despite several attempts to increase their usage since the s, the most important reason of which is the continued production and popularity of the one-dollar bill.

Due to the penny's low value, some efforts have been made to eliminate the penny as circulating coinage. For a discussion of other discontinued and canceled denominations, see Obsolete denominations of United States currency Coinage and Canceled denominations of United States currency Coinage. Collector coins are technically legal tender at face value but are usually worth far more due to their numismatic value or for their precious metal content.

These include:. Constitution provides that Congress shall have the power to "borrow money on the credit of the United States. Those notes are "obligations of the United States" and "shall be redeemed in lawful money on demand at the Treasury Department of the United States, in the city of Washington, District of Columbia, or at any Federal Reserve bank".

The Federal Reserve Note is the only type that remains in circulation since the s. Federal Reserve Notes are printed by the Bureau of Engraving and Printing and are made from cotton fiber paper as opposed to wood fiber used to make common paper.

The " large-sized notes " issued before measured 7. currency is identical to the size of Philippine peso banknotes issued under United States administration after , which had proven highly successful.

These notes were used primarily in inter-bank transactions or by organized crime ; it was the latter usage that prompted President Richard Nixon to issue an executive order in halting their use. With the advent of electronic banking, they became less necessary. currency for details. Though still predominantly green, the post series incorporate other colors to better distinguish different denominations. It also plans larger, higher-contrast numerals, more color differences, and distribution of currency readers to assist the visually impaired during the transition period.

The Federal Reserve Act created the Federal Reserve System in as the central bank of the United States. Its primary task is to conduct the nation's monetary policy to promote maximum employment, stable prices, and moderate long-term interest rates in the U. It is also tasked to promote the stability of the financial system and regulate financial institutions, and to act as lender of last resort. The Monetary policy of the United States is conducted by the Federal Open Market Committee , which is composed of the Federal Reserve Board of Governors and 5 out of the 12 Federal Reserve Bank presidents, and is implemented by all twelve regional Federal Reserve Banks.

Monetary policy refers to actions made by central banks that determine the size and growth rate of the money supply available in the economy, and which would result in desired objectives like low inflation, low unemployment, and stable financial systems. The economy's aggregate money supply is the total of. Monetary policy directly affects interest rates; it indirectly affects stock prices, wealth, and currency exchange rates. Through these channels, monetary policy influences spending, investment, production, employment, and inflation in the United States.

Effective monetary policy complements fiscal policy to support economic growth. When the Federal Reserve makes a purchase, it credits the seller's reserve account with the Federal Reserve. This money is not transferred from any existing funds—it is at this point that the Federal Reserve has created new high-powered money. Commercial banks then decide how much money to keep in deposit with the Federal Reserve and how much to hold as physical currency. In the latter case, the Federal Reserve places an order for printed money from the U.

Treasury Department. The Federal Reserve's monetary policy objectives to keep prices stable and unemployment low is often called the dual mandate. This replaces past practices under a gold standard where the main concern is the gold equivalent of the local currency, or under a gold exchange standard where the concern is fixing the exchange rate versus another gold-convertible currency previously practiced worldwide under the Bretton Woods Agreement of via fixed exchange rates to the U.

The primary currency used for global trade between Europe , Asia , and the Americas has historically been the Spanish-American silver dollar , which created a global silver standard system from the 16th to 19th centuries, due to abundant silver supplies in Spanish America.

dollar itself was derived from this coin. The Spanish dollar was later displaced by the British pound sterling in the advent of the international gold standard in the last quarter of the 19th century. dollar began to displace the pound sterling as international reserve currency from the s since it emerged from the First World War relatively unscathed and since the United States was a significant recipient of wartime gold inflows.

emerged as an even stronger global superpower during the Second World War , the Bretton Woods Agreement of established the post-war international monetary system, with the U. dollar is joined by the world's other major currencies - the euro , pound sterling , Japanese yen and Chinese renminbi - in the currency basket of the special drawing rights of the International Monetary Fund.

Central banks worldwide have huge reserves of U. dollars in their holdings and are significant buyers of U. treasury bills and notes. Foreign companies, entities, and private individuals hold U.

dollars in foreign deposit accounts called eurodollars not to be confused with the euro , which are outside the jurisdiction of the Federal Reserve System. The United States Department of the Treasury exercises considerable oversight over the SWIFT financial transfers network , [69] and consequently has a huge sway on the global financial transactions systems, with the ability to impose sanctions on foreign entities and individuals. dollar is predominantly the standard currency unit in which goods are quoted and traded, and with which payments are settled in, in the global commodity markets.

Dollar Index is an important indicator of the dollar's strength or weakness versus a basket of six foreign currencies. The United States Government is capable of borrowing trillions of dollars from the global capital markets in U. dollars issued by the Federal Reserve , which is itself under U. government purview, at minimal interest rates, and with virtually zero default risk. In contrast, foreign governments and corporations incapable of raising money in their own local currencies are forced to issue debt denominated in U.

dollars, along with its consequent higher interest rates and risks of default. A frequent topic of debate is whether the strong dollar policy of the United States is indeed in America's own best interests, as well as in the best interest of the international community.

For a more exhaustive discussion of countries using the U. dollar as official or customary currency, or using currencies which are pegged to the U.

dollar, see International use of the U. dollar Dollarization and fixed exchange rates and Currency substitution US dollar. Among the countries using the U. dollar together with other foreign currencies and its local currency are Cambodia and Zimbabwe. The 6th paragraph of Section 8 of Article 1 of the U. Constitution provides that the U. Congress shall have the power to "coin money" and to "regulate the value" of domestic and foreign coins. Congress exercised those powers when it enacted the Coinage Act of That Act provided for the minting of the first U.

dollar and it declared that the U. dollar shall have "the value of a Spanish milled dollar as the same is now current". The table shows that from through the U.

dollar has lost about The decline in the value of the U. dollar corresponds to price inflation , which is a rise in the general level of prices of goods and services in an economy over a period of time. The United States Consumer Price Index , published by the Bureau of Labor Statistics , is a measure estimating the average price of consumer goods and services in the United States.

CPI relative to — and the annual year-over-year change in CPI is shown at right. The value of the U. dollar declined significantly during wartime, especially during the American Civil War , World War I, and World War II. dollar in were not very different from the price level in the s. The Federal Reserve initially succeeded in maintaining the value of the U. prices in the s. dollar was thus anchored to the value of gold. Rising government spending in the s, however, led to doubts about the ability of the United States to maintain this convertibility, gold stocks dwindled as banks and international investors began to convert dollars to gold, and as a result, the value of the dollar began to decline.

Facing an emerging currency crisis and the imminent danger that the United States would no longer be able to redeem dollars for gold, gold convertibility was finally terminated in by President Nixon , resulting in the " Nixon shock ". dollar was therefore no longer anchored to gold, and it fell upon the Federal Reserve to maintain the value of the U.

The Federal Reserve, however, continued to increase the money supply, resulting in stagflation and a rapidly declining value of the U. dollar in the s. This was largely due to the prevailing economic view at the time that inflation and real economic growth were linked the Phillips curve , and so inflation was regarded as relatively benign.

dollar lost two thirds of its value. In , President Carter appointed Paul Volcker Chairman of the Federal Reserve. The Federal Reserve tightened the money supply and inflation was substantially lower in the s, and hence the value of the U. dollar stabilized. Over the thirty-year period from to , the U. dollar lost over half its value.

The so-called " Great Moderation " of economic conditions since the s is credited to monetary policy targeting price stability. There is an ongoing debate about whether central banks should target zero inflation which would mean a constant value for the U.

dollar over time or low, stable inflation which would mean a continuously but slowly declining value of the dollar over time, as is the case now. Although some economists are in favor of a zero inflation policy and therefore a constant value for the U. dollar, [82] others contend that such a policy limits the ability of the central bank to control interest rates and stimulate the economy when needed.

From Wikipedia, the free encyclopedia. Official currency of the United States. For other uses, see USD disambiguation. List of nicknames. Further information: Dollar. See also: Slang terms for money § United States. Main article: Dollar sign. See also: History of the United States dollar. See also: Coinage Act of See also: Continental currency.

See also: Federal Reserve Note. Main article: International use of the U. Main article: Coins of the United States dollar. Main article: Federal Reserve Note. Binance USD BUSD Share. Rank 6. Market Cap. Fully Diluted Market Cap. Volume 24h. Circulating Supply. Max Supply. Total Supply. Buy Exchange Gaming Earn Crypto. Binance USD Links. BNB Beacon Chain BEP2 BUSD-BD1. Binance USD Contracts.

Ethereum 0x4Fab BNB Smart Chain BEP20 0xe9e Avalanche C-Chain 0x Velas 0xc Harmony 0xe Solana 33fsBL Terra Classic terra Polygon 0xa8d Moonbeam 0xa Elastos 0x9f1d OKExChain 0x IoTex 0x84ab KardiaChain 0x Cronos 0xC74D Milkomeda 0x4bf Meter 0x24aa Bitcoin Cash 0xbC6a

BUSD Binance USD. Buy U. Dollars BUSD through Binance Today! BUSD is a USD-backed stablecoin approved by the New York State Department of Financial Services NYDFS and issued in partnership with Paxos. How to Get BUSD. Convert Stablecoin 0 Fees. Convert to BUSD. Purchase with Fiat 0 Fees. Purchase with USD via wire transfer, or top up your Binance Spot Wallet with other currencies to exchange to BUSD. Purchase Now.

Trade on Binance 0 Maker Fees. Trade BUSD. Why BUSD. Upholding High Standards that Build Trust BUSD is fully regulated by a primary prudential regulator - the New York State Department of Financial Services NYDFS , offering the highest level of consumer protection.

Fully Segregated Assets With fully segregated bankruptcy-remote accounts, assets held in custody would be returned to their rightful owners even if the custodial trust became insolvent.

Mass Adoption BUSD is available across multiple blockchains, over 30 exchanges and has many popular use cases. Monthly BUSD Reserve Breakdown. Attestation Report. JAN FEB MAR APR MAY JUN. Popular Use Cases. Earn Interest. Go to Binance Earn. Go to Launchpool. Explore BUSD Ecosystem View More. View More. Learn More About BUSD. Introducing BUSD. Binance Widens Access to Its Regulated, Licensed, and Fiat-backed BUSD Stablecoin. Join BUSD Community.

What is BUSD? And how does it work? BUSD is a stablecoin pegged to the US Dollar USD , issued by Paxos. Approved by the NYDFS, BUSD is available for purchase and redemption at a rate of 1 BUSD to 1 USD.

BUSD is a fiat-backed stablecoin that maintains a U. dollar peg. For every unit of BUSD, there is one US dollar held in reserve.

In other words, an amount of U. dollars equal to the total supply of BUSD is held in custody by Paxos, acting as its reserves in FDIC-insured U.

To learn more, please refer to our articles:. Stablecoins and BUSD: What are They and How do They Work? How to purchase and redeem BUSD? Visit How to buy Binance USD BUSD guide to learn more details.

On Binance, it provides over tradeable BUSD pairs and various fiat gateways, making it easy to add BUSD to your portfolio. To redeem or sell BUSD to US dollars, you can use the Binance Buy and Sell function. For large redemptions, contact the BUSD team. Or you can redeem through the Paxos platform directly.

Learn more about multichain BUSD. BUSD is issued on Ethereum by Paxos and regulated by the NYDFS. Binance provides the pegged token service to lock BUSD on Ethereum and issues an equivalent amount of Binance-peg BUSD on other networks. Check out the proof of assets for more details. BUSD is currently issued on three blockchains: Ethereum, BNB Smart Chain and BNB Beacon Chain — more integrations are expected to come soon. What are the benefits of trading BUSD on Binance? On Binance, there are over BUSD spot and margin trading pairs that now offer zero maker fees for users who place orders on the order book.

For market makers, they can enjoy appealing trading fees using BUSD. Binance offers zero transaction fees on all BUSD stablecoin pairs. If users hold other stablecoins and want to switch to BUSD, the process is totally free with Binance. How do I know my BUSD is secure? And the reserve is made by cash and cash equivalents.

While BUSD is fully collateralized, its issuer-Paxos provides a transparent process for minting and burning BUSD tokens. In addition, BUSD reserves are regularly attested by a trusted auditor to ensure users will be able to access the collateral that backs BUSD whenever needed. You can visit our website to check out these reports.

Furthermore, BUSD commits to high standards, including working with regulators to maintain a license and be fully regulated. BUSD is issued by Paxos, a partner of Binance.

Both Paxos, as the issuer, and the BUSD stablecoin, are regulated by the New York State Department of Financial Services NYDFS , a leading regulator in this area. Last but not least, BUSD offers users the highest levels of safety, protection, and security. In addition to being regulated by the NYDFS, BUSD is subject to the New York Banking Law.

That law states that in the unlikely event that Paxos Trust becomes insolvent, it will not go through the standard bankruptcy procedures like other companies. Instead, the Superintendent of NYDFS would return assets held in custody by Paxos Trust to their rightful owners. Paxos Trust holds customer assets safely separated from any corporate funds as a qualified custodian.

This way, our customers can be sure that their assets will always be available at any time. Contact Us For business cooperation requests, please connect us at:. BUSD Email: busd binance. Google Form: Link. Disclaimer: BUSD is issued on Ethereum by Paxos and regulated by the NYDFS.

Please note that Binance-Peg BUSD is a Binance product. It is not issued by Paxos nor regulated yet by the NYDFS.

This is for informational purposes only. Notes to be redeemed for gold after January 1, The last coins to be converted to profiles of historic Americans were the dime and the Dollar Summary and links to coins issued in the 19th century:. Market open. United States articles. Monetary policy directly affects interest rates; it indirectly affects stock prices, wealth, and currency exchange rates.

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