Binance USD (BUSD) Passes $100M Market Cap

The Binance USD (BUSD) – the US dollar-backed stablecoin made in partnership between Binance and Paxos Trust Company – market cap surpassed $100M for the first time. It has grown to a market cap of more than $115M as of March 11. In the last month alone, BUSD market cap has grown more than 400% – from $22M to $115M. 

BUSD is also seeing all-time highs in trading volume. On Monday March 9, BUSD pairs on Binance hit transaction volumes of more than $200M, which makes BUSD the most traded, fully USD-backed stablecoin.

CZ (Changpeng Zhao), Binance CEO, commented, “BUSD’s market cap crossing $100 million is a big milestone for Binance and Paxos, which illustrates the strong need and use of alternative assets in the market. We are looking forward to seeing more utility through the power of stable digital assets and serving our part with BUSD, a NYDFS-approved USD-based stablecoin.”

Rich Teo, Co-Founder and CEO Asia, added, “The spectacular growth of BUSD shows that the market is hungry for an alternative. We’re excited about this milestone and proud to partner with Binance to deliver an optimal solution for our global users.”

Company Profile

About Paxos
Paxos is the leading regulated blockchain & tokenization infrastructure platform. It’s redefining financial markets by building prudentially regulated solutions that enable the instant movement of any asset to anyone in a trustworthy way. 

CEO & Co-Founder

Charles Cascarilla is the CEO and co-founder of Paxos, a regulated blockchain infrastructure platform that enables the movement of all assets in a trustworthy way. With more than 20 years of experience in financial services, Charles has a unique perspective on integrating blockchain technology with traditional systems. He co-founded institutional asset management complex Cedar Hill Capital Partners in 2005 and its venture capital subsidiary, Liberty City Ventures, in 2012.


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Paxos Brand Resources

Oak HC/FT, Declaration Partners, Founders Fund, Mithril Capital, PayPal Ventures