Binance USD
Stablecoin Profile
Binance USD (BUSD) is a fiat-backed stablecoin pegged to USD, with $40M in circulating supply across 33 blockchain networks. Each BUSD is backed by reserves held by the issuer, with parity attested via defillama. The peg has historically held within ±1% on most trading sessions, with reserve composition and attestation cadence the primary inputs to its credit-risk profile.
About Binance USD (BUSD)
BUSD is a 1:1 USD-backed stablecoin approved by the New York State Department of Financial Services (NYDFS), issued in partnership with Paxos.
Paxos customers who have undergone a verification process can exchange USD for BUSD and redeem BUSD for USD.
Issuer & attestation
Binance USD (BUSD) is issued by Paxos Trust Company, operating under New York State (NYDFS-regulated). Originally launched in 2019.
Reserve composition
Backed 1:1 by US dollars and short-dated US Treasuries held in segregated accounts.
Notable peg events
NYDFS ordered Paxos to halt new BUSD issuance in February 2023. Existing BUSD remains redeemable but the supply is in long-term decline.
Reserve attestation reports
Issuer information is compiled from public disclosures, NYDFS / BMA regulatory filings, and primary-source attestation reports. Always verify directly with the issuer before making decisions.
Recent supply activity
Binance USD (BUSD) supply was unchanged in the last 24 hours, was unchanged over the past week, and was unchanged over the past 30 days.
Steady issuance: supply has held roughly flat (0.00% over 30 days), consistent with mature stablecoin liquidity dynamics.
Supply History
Network distribution
Binance USD circulates across 10 blockchain networks. Ethereum hosts the largest share at 99.24%, followed by IoTeX at 0.53%. Cross-chain distribution has remained broadly stable over the past 30 days.
| Chain | Supply | Share | 24h Δ | 30d Δ |
|---|---|---|---|---|
| Ethereum | $39.7M | 99.24% | -0.00% | +0.00% |
| IoTeX | $211.7K | 0.53% | 0.00% | -0.00% |
| Avalanche | $60.8K | 0.15% | 0.00% | 0.00% |
| Solana | $25.1K | 0.06% | -0.00% | +0.04% |
| Osmosis | $4.4K | 0.01% | 0.00% | -0.66% |
| EthereumClassic | $2K | 0.00% | 0.00% | 0.00% |
| Loopring | $991.8 | 0.00% | 0.00% | 0.00% |
| Near | $102.3 | 0.00% | 0.00% | 0.00% |
| ThunderCore | $29.1 | 0.00% | 0.00% | 0.00% |
| ZKsync Era | $20.9 | 0.00% | 0.00% | 0.00% |
Peg stability history
Binance USD (BUSD) is designed to trade at exactly 1.00 USD, with its peg defended through direct redeemability against off-chain reserves. Spot price currently sits at $1.0000, a +0.003% deviation from the target — well inside the stability band typical for reserve-backed dollar tokens.
How reserve-backed stablecoins defend their peg
Fiat-backed stablecoins maintain their peg through arbitrage: any time the secondary-market price drifts above $1.00, authorised participants mint new tokens by depositing dollars and sell them into the market; any time it drifts below, they buy on the open market and redeem 1:1 for dollars. The peg therefore depends entirely on (a) the reserves actually existing, (b) the issuer honouring redemption requests promptly, and (c) the issuer remaining solvent and unfrozen.
Practical implications for holders
- Counterparty risk is concentrated in the issuer and its banking partners — a banking failure (as in the March 2023 USDC / SVB episode) can cause short-term depegs even when the underlying reserves are sound.
- Reserve attestations are not full audits. Always read the firm name, scope, and date of the latest attestation report before treating the peg as risk-free.
- Redemption rights typically apply only to verified institutional partners, not to retail holders. Retail exposure is exited via secondary markets, where liquidity matters most during stress periods.
- Regulatory action against the issuer (NYDFS orders, OFAC freezes, court-ordered blacklists) can immediately impair specific addresses or even the entire token.
- Mantapex tracks peg deviation in real time from DeFiLlama price feeds, but for high-value holdings cross-check directly on at least one independent venue (CoinGecko, the issuer's own dashboard, or an on-chain DEX).
Peg-stability commentary is based on the mechanism class (reserve-backed) and is provided for educational purposes only — it is not financial advice. Past peg stability is not a guarantee of future performance, and even the highest-quality stablecoins have historically traded outside their target band during banking, regulatory, or liquidity stress.
Contract addresses
Binance USD (BUSD) is deployed as a token contract on 1 blockchain network below. Always verify the contract address you're interacting with on the relevant block explorer before sending funds — phishing tokens reusing well-known stablecoin tickers are common, especially on newer chains.
| Chain | Contract address | Verify |
|---|---|---|
| Ethereum | 0x4fabb145d64652a948d72533023f6e7a623c7c53 | Explorer |
Contract addresses are sourced from DeFiLlama's stablecoin profile. Some chains (Tron, Solana, Aptos, Sui) use non-EVM address formats. The "Explorer" link opens the official block explorer for the given chain; we do not link out to third-party explorers that may show altered data.
Compare Binance USD to other fiat-backed stablecoins
Below are the largest fiat-backed stablecoins tracked on Mantapex alongside Binance USD (BUSD). Comparing supply and chain footprint within the same mechanism class is more meaningful than cross-class comparison, because the underlying peg-defence assumptions are different.
| Stablecoin | Supply | Mechanism | Chains |
|---|---|---|---|
| Tether (USDT) | $184.1B | fiat-backed | 107 |
| USD Coin (USDC) | $79.6B | fiat-backed | 125 |
| World Liberty Financial USD (USD1) | $4.5B | fiat-backed | 8 |
| PayPal USD (PYUSD) | $4.1B | fiat-backed | 7 |
| BlackRock USD (BUIDL) | $2.5B | fiat-backed | 8 |
Peg Stability
Chain Distribution
Resources & data sources
Binance USD (BUSD) is tracked across major crypto data providers. The links below open Binance USD (BUSD)'s pages on CoinGecko, CoinMarketCap and DeFiLlama, so you can cross-check supply, market cap, exchange listings and historical price data directly at the source.
Price feed sourced from defillama. Supply, peg and chain-distribution data are aggregated from DeFiLlama's stablecoins dataset, which combines on-chain balances across supported networks. Numbers on this page typically refresh every 10 minutes.
Recent Binance USD news
Latest reporting from major crypto news outlets covering Binance USD.
- Crypto Briefing
Trump family's crypto venture is quietly minting money through Binance stablecoin deal
The Trump family's crypto venture highlights potential conflicts of interest and regulatory challenges in the evolving DeFi landscape. Trump family's crypto venture is quietly…
- Blockonomi
Binance Stablecoin Inflows Top $1.5B as ERC20 USDT Dominates Exchange Flows
Binance records a sharp stablecoin netflow reversal on May 14, led by a surge in ERC20 USDT deposits.
- Invezz
BNB coin eyes $644 breakout as Binance stablecoin reserves resurge
Binance Coin (BNB) has shown signs of strength in recent weeks despite occasional pullbacks across the broader cryptocurrency market. The cryptocurrency has been hovering near the…
- Bitcoinist
The $10 Billion Vanishing Act: Binance Stablecoin Reserves Evaporate To 2024 Levels As Liquidity Flees Crypto
The crypto market remains under pressure as Bitcoin and major altcoins continue to lose key support levels, reinforcing a cautious tone across digital assets. Momentum has…
- Cointelegraph
Binance stablecoin reserves have sunk 19% since November
Binance stablecoin reserves have fallen 18.6% in three months as tightening Fed policy and weak inflows extended the crypto liquidity drought.
- The Cryptonomist
Binance stablecoin reserves slump $9B as liquidity thins and risk appetite fades
Investor caution is growing across digital asset venues as the binance stablecoin trend highlights weakening crypto market liquidity and a shift away from risk. Binance has logged…
- Crypto news
Binance stablecoin reserves drop $9B, signal fading risk appetite
Binance logs three straight months of heavy stablecoin outflows, erasing $9B in reserves and signaling a sustained liquidity squeeze across crypto markets.
- Crypto Economy
Binance Stablecoin Outflows Hint at Emerging Bear Market
Data from CryptoQuant and Artemis reveal that stablecoin reserves on Binance have been experiencing a steady decline since last November. This retreat, which places funds at…
Related stablecoins
Stablecoins comparable to Binance USD by collateral mechanism, peg currency, or circulating supply — handy for spotting alternatives if a peg breaks or a regulator forces a delist.
Other fiat-backed stablecoins
Stablecoins pegged to USD
Risk Warning
Stablecoins carry risks including de-pegging, regulatory changes, and counterparty risk. Always diversify and do your own research.
