Binance, the global leading cryptocurrency exchange and blockchain ecosystem, today announced the addition of BUSD, a USD-denominated stablecoin on its peer-to-peer (P2P) trading platform. Starting today, users can directly buy and sell BUSD against Chinese Yuan (CNY), Vietnamese Dong (VND) and Russian Ruble (RUB) with zero transaction fees on the Binance mobile app.
Binance P2P offers an open marketplace for users to trade cryptocurrencies with other users in multiple payment methods, and has supported Chinese Yuan (CNY), Vietnamese Dong (VND) and Russian Ruble (RUB) for buying and selling BTC, ETH, BNB and USDT. Since its launch in October 2019, Binance P2P trading has exhibited stable growth, processing over 250 million US dollars in trading volumes.
“Nowadays stable coins are not just a hedging tool for crypto investors but also a favorable option for many new users when they buy crypto for the first time. We are pleased to introduce BUSD, a regulated US Dollars-backed stablecoin to our global user for peer-to-peer trading,” said Binance CEO Changpeng Zhao (CZ). “With BUSD, users can trade against over twenty cryptocurrencies with zero fees on Binance spot and margin trading platforms, and earn interests with lending.”
BUSD is a USD-pegged stablecoin issued by Paxos and Binance, and has been approved by New York Department of Financial Services (NYDFS). Users who purchase over 100 BUSD through P2P trading during February 13 and February 16 can subscribe to a 15-day fixed-term lending product open from 2020/02/17 12PM (UTC) and earn interest at an 15% annualized rate.
About Binance P2P
Binance Peer-to-Peer (P2P) provides easy access to cryptocurrency through a consumer-to-consumer (C2C) or business-to-consumer (B2C) model and better trading experience for users. Visit: https://c2c.binance.com/