The Changpeng Zhao led Binance, the world’s largest cryptocurrency organization has been on the tie-up warpath, with multiple associations and listings. Binance’s very own cryptocurrency Binance USD [Binance USD] has also taken several strides in the crypto industry, gaining in value and in popularity.
The organization had another reason to rejoice recently when Coinchase a popular exchange announced that they will be listing BUSD on their platform. Coinchase’s tweet read:
“Coinchase listed Binance USD($BUSD)
600,000+ #Coinchase users can trade $BUSD now. Let’s speed up the adoption of $BUSD
#Coinchase will list more tokens from @binance and @Binance_DEX
Trade now: https://coinchase.com/trade/BUSD_USDT @PaxosGlobal @CoinMarketCap @cz_binance”
At press time, BUSD was trading for an exact $1 with a total market cap of $16.981 million. The 24-hour volume of the fairly new cryptocurrency was $6.656 million. The Binance CEO also wasted no time in announcing the listing to his thousands of followers and tweeted:
“One more exchange adds $BUSD.”
Many cryptocurrency enthusiasts also joked around as to how they thought that the listing was on Coinbase, the rival cryptocurrency exchange. The Coinchase listing comes int eh wake of BUSD getting added on the Binance US platform along with IOTA.
Binance US only houses seven different cryptocurrencies for trade at the moment. The platform has claimed that they will be adding other cryptocurrencies to its fold soon, with an aim to establish dominance in the United States.
Binance’s Stablecoin BUSD
The BUSD was created as a dollar-pegged stablecoin in September of 2018. Binance had created the stablecoin in a partnership with Paxos, another popular cryptocurrency. Binance also has a key focus to expand BUD to other countries where digital assets are just starting to bloom.
In a bid to bolster the African market, Binance had launched a fiat to crypto gateway for Nigeria’s sovereign, Niara. During the launch, the company kept the Nigerian trading pairs limit to BUSD/NGN, BNB/NGN and BTC/NGN. At a fee of 1.4 percent, investors have the option of depositing capital anywhere int eh range of 150 NGN and 430 NGN.
Binance’s official blog post read:
“Binance has committed a total of 10,000 USD worth of NGN to give to our newly registered users worldwide. Rewards will be distributed on the following day based on the first-come-first-served manner.”
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