New York Regulator Approves Binance Stablecoin

The popular cryptocurrency exchange Binance received approval from the New York State Financial Services Authority for the Binance stablecoin USD (BUSD), pegged to the US dollar.

The launch of BUSD took place in September with the support of Paxos, the company responsible for keeping fiat reserves and issuing a “stable coin”. Currently, the market capitalization of Binance USD is $ 17.1 million (151th place in the CoinMarketCap rating).

Today Binance also launched unlimited contracts for the XRP token paired with USD with a leverage of up to 75x.

The other day, Binance CEO Changpen Zhao and the exchange team told what users should expect in 2020, while noting that they prefer not to make big plans.

In particular, Binance plans to launch trading tournaments on the Binance Futures platform.

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The exchange also announced the addition of the ability to link bank cards issued by the Visa system to users’ trading accounts for direct purchase of cryptocurrencies.

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