BUSD
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What is BUSD?
Issuance and reserves
Paxos stopped minting BUSD on February 21, 2023. The decision followed instructions from the New York Department of Financial Services. Paxos also ended its branded stablecoin relationship with Binance. The issuer continues managing the outstanding tokens' reserves. Its stated backing is one dollar of segregated dollar-denominated reserves for each issued BUSD.
Redemption and token format
Paxos supports direct redemption of ERC-20 BUSD. Customers need an onboarded Paxos account to use that service. Deposited tokens are credited as US dollars in the customer's account. Dollars can then be withdrawn through supported banking channels. This redemption route applies to Paxos-issued Ethereum BUSD; similarly named bridged tokens require separate conversion arrangements. BUSD itself is a dollar-denominated payment token, rather than an Ethereum staking asset. Its outstanding issuance reflects the remaining legacy tokens after redemptions.
Where to trade BUSD
3 exchanges · top 10
Live spot quotes from connected exchanges
BUSD funding rates
Live perpetual funding on every connected exchange. Positive = longs pay shorts.
Contracts & chains
Exact contract or mint per network — the identity layer used for DEX routing.
On-chain routes
Networks with a connected DEX routing adapter.