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Feb 20, 2023 11:45
Henbbo added support for BUSD coin to its platform
Henbbo Foundation works very closely with the Binance cryptocurrency exchange and continues to develop this collaboration. In order to simplify different cross-platform transactions for our clients and to provide an additional alternative for transactions we have added support for BUSD (Binance USD) coin.
BUSD is a regulated Stablecoin which is backed by fiat currency and matches the US dollar at a 1:1 ratio. The coin is directly regulated by the New York State Department of Financial Services (NYSDFS). For these reasons, many companies see BUSD as a good alternative to the popular USDT Stablecoin (TRC20).
As a Stablecoin, BUSD is designed to maintain a stable market value. BUSD owners can exchange tokens for fiat currency and vice versa. This allows investors and traders to keep assets on the blockchain without the threat of volatility and without having to withdraw them from crypto-space.
The main difference from USDT, which is based on the Ethereum blockchain, is that BUSD uses multiple blockchains. This includes one of the blockchains of the Binance exchange. Binance's additional support makes it even more secure because there is no need to worry about one blockchain securing all transactions.
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