> the same people who own Binance, the world's largest crypto exchange own Tether
Do you have a source for this? Because Binance has its own stablecoin (BUSD)…I think the correct exchange is Bitfinex, not Binance
Do you have a source for this? Because Binance has its own stablecoin (BUSD)…I think the correct exchange is Bitfinex, not Binance
>Related quote from the link:
>"Paxos issues two US dollar-backed stablecoins – Pax Dollar (USDP) and Binance USD (BUSD) – that are overseen by the NYDFS. These two tokens are very similar in design and reserve operations because they are regulated. Paxos and NYDFS agreed to the terms of the token in advance of issuing – this includes the stipulation that USDP and BUSD only be issued by Paxos on the ethereum blockchain at this time.
>Our marketing partner for BUSD – Binance – issues a token on its BNB smart chain called Binance-Peg BUSD ... Note that Binance-Peg BUSD is strictly a Binance product; it is not issued by Paxos nor regulated by the NYDFS."
> https://paxos.com/2022/04/07/busd-issued-by-paxos-on-ethereu...