Binance Expands Stablecoin BUSD to Polygon, Avalanche
The token had so far been available on Ethereum and BNB Chain. Each unit of BUSD is backed by one U.S. dollar, making it a fiat-backed stablecoin, according to Binance and the stablecoin’s issuer Paxos, according to Binance. Traders and crypto users often transact with stablecoins like BUSD to hedge against the volatility in crypto markets. The token last week reached a $20.9 billion market capitalization, placing it third among stablecoins by value, according to CoinGecko. Tether (USDT) and USD Coin (USDC) are valued at $67 billion and $50 billion, respectively. While Ethereum recently underwent its long-awaited merge, which dramatically lowered its energy consumption.
Source
https://t.me/Matic_Chainlink_Monero
