What is the difference between USDT and BUSD?

TLDR: USDT and BUSD are both stablecoins that are pegged to the value of the US dollar. They are used on cryptocurrency exchanges as a way to trade cryptocurrencies without the volatility associated with many digital assets. The primary difference between the two is the issuing entity.

When was the BUSD/USDT exchange rate last updated?

BUSD/USDT exchange rate was last updated on October 3, 2022 at 17:32 UTC . Select your BUSD to Fiat pair to get the best exchange price and bid-ask liquidity spread:

What is BUSD backed by?

BUSD is 100% backed by reserves held in either or both (i) fiat cash in dedicated omnibus accounts at insured U.S. banks and/or (ii) U.S. Treasury bills (including through repurchase agreements and/or money-market funds invested in U.S. Treasury bills). BUSD is approved by the New York State Department of Financial Services (NYDFS).

What is BUSD (Binance-peg)?

BUSD is approved by the New York State Department of Financial Services (NYDFS). BUSD is issued by Paxos Trust Company, LLC (Paxos) in partnership with Binance and can be issued and redeemed without any extra fee. Paxos issues BUSD on the Ethereum blockchain. In addition, Binance offers a wrapped BUSD token (Binance-Peg) on BNB Chain.