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.