The BUSD stablecoin was founded by Paxos and Binance in an effort to create a cryptocurrency that would be backed by the US dollar. A key characteristic of BUSD is that one unit of BUSD is equivalent to one US dollar . To support this value, Paxos holds an amount of US dollars that is equal to the total supply of BUSD.
Read moreIs Busd better than USDT?
USDT has higher trading volumes but isn’t totally backed by cash reserves and has found itself tangled in reputation issues. In comparison, BUSD has undergone more extensive auditing processes and works on many different blockchains . The two currencies both provide fast transaction times with low fees.
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