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Binance Adds Pegged BUSD Stablecoin to TRON Network: Details

Fri, 12/30/2022 - 13:32
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Tomiwabold Olajide
Deposits and withdrawals for Binance-Peg BUSD are now open on TRON
Binance Adds Pegged BUSD Stablecoin to TRON Network: Details
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Top crypto exchange Binance has completed the integration of Binance-Peg BUSD on the TRON network. Deposits and withdrawals for Binance-Peg BUSD are now open on the TRON network.

Along with the BUSD issued by Paxos on the Ethereum blockchain, Binance-Peg BUSD (a wrapped version of BUSD offered by Binance) extends its supported blockchain networks to include TRON. This will allow users to now transfer BUSD and Binance-Peg BUSD across the TRON network.

Binance independently mints Binance-Peg BUSD on other blockchains, such as BNB Chain, Polygon and Avalanche, and pegs the tokens to BUSD on a one-to-one basis.

This allows holders of both tokens on the Binance platform to swap tokens between Ethereum and other blockchains. Binance-Peg BUSD is neither issued by Paxos nor regulated by NYDFS, while BUSD is a regulated, fiat-backed stablecoin pegged to the U.S. dollar.

Aside from the TRON network, Binance-Peg BUSD is also available on the BNB Chain, Ethereum, Avalanche and Polygon networks.

TRON's total account exceeds 132 million

According to the TRONScan Twitter account, TRON's total accounts have reached 132,010,999, exceeding 132 million. The TRON ecosystem continues to grow as it makes efforts to decentralize the web.

In other news, TRON DAO has announced its membership in the Enterprise Ethereum Alliance (EEA). As an EEA member, TRON DAO will work with the EEA and its members, the Ethereum ecosystem's key business adopters, innovators and leaders, to accelerate the speed of Ethereum business breakthroughs and adoption.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.