Binance USD (BUSD) is a USD-based stablecoin that is backed by the NYDFS. Binance USD’s (BUSD) platform was launched in collaboration with Binance and Paxos.
Binance USD’s (BUSD) protocol aims for global currency transfer quickly and cheaply. The Binance USD (BUSD) network also aims at creating a world-renowned crypto exchange platform to secure the future of crypto finance. Binance USD (BUSD) was created to solve the issues faced by most crypto exchanges currently.
USD Coin (USDC) is a stablecoin because it has a stable price – you can redeem 1 USD Coin (USDC) for $1 USD. Each USD Coin (USDC) has a backing of one USD, or an asset that is equivalent to its fair value. These assets, which back USD Coin (USDC), are held in different accounts in financial institutions regulated by the US. USD Coin (USDC) is an Ethereum token, and can be stored in a compatible wallet.
The introduction of TMS Network’s (TMSN) trading platform aims to take away problems faced by traders due to centralized systems. TMS Network (TMSN) will provide various resources to help traders make informed decisions. TMS Network (TMSN) will also provide traders with a secure environment where they can trade various digital assets, including CFDs, stocks, Forex, and cryptos.
Binance (BNB) checking for Binance USD (BUSD) alternative
Binance (BNB) has sent $180 million to escrow accounts to mint TrueUSD (TUSD) as an alternative to Binance USD (BUSD). Binance USD (BUSD) has been falling, and its market cap has been reduced to almost half. Despite this, Binance USD (BUSD) remains in the top three in terms of the market stablecoin pool.
At the time of writing, one Binance USD (BUSD) was priced at $1.000. Binance is looking at TUSD as an alternative to Binance USD (BUSD). TUSD is a key component of TrueFi and serves as a loan collateral. Due to Binance’s public backing of TUSD, TrueFi’s token is rising, while Binance USD (BUSD) continues to decline.
Binance (BNB) gets its story mixed up about misplaced USD Coin (USDC)
A recent Forbes investigation has revealed that the custody of stablecoin collateral and assets by Binance is not quite right. Binance has provided confusing and contradictory responses to Forbes’ findings as almost $1.8 million worth of USD Coin (USDC) has moved out of Binance’s (BNB) wallets. As per the findings, almost $1.2 million was sent to Cumberland DRW, and the rest to a collapsed hedge fund, Alameda Research.
USD Coin (USDC) is at $0.999, and Binance doesn’t have an explanation regarding the missing tokens. In the past, Binance has failed to maintain a 1:1 backing of its assets in a segregated manner. Whether Binance can account for the missing USD Coin (USDC) tokens is to be seen.
TMS Network’s (TMSN) trading volume grows as the platform continues to impress
TMS Network’s (TMSN) new platform will revolutionize the trading world. TMS Network (TMSN) aims to eliminate slower transactions and reduce fees. TMS Network (TMSN) also provides a user-friendly interface, and various resources to make an informed decision.
TMS Network’s (TMSN) token price has risen to $0.032, and its presale stage 1 has closed earlier than expected. With so much potential shown by TMS Network’s (TMSN) new platform, initial token holders stand to gain as the platform continues growing.
Presale: https://presale.tmsnetwork.io
Website: https://tmsnetwork.io
Telegram: https://t.me/TMSNetworkIO
Twitter: https://twitter.com/tmsnetworkio
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