Another Development About BUSD: They Removed It From The Collateral Basket And Added This Stablecoin Instead!

a stablecoin and an affiliated company Reserve (RSV), BUSD would remove its support and replace it USDC announced that he would use

Stablecoin Reserve (RSV) Announces It Will Now Use Only USDC As Collateral Instead of BUSD

RSV, liquidity and cryptocurrency He explained that he concluded that pure USDC support is the most reliable option for now, given the breadth of integration into its ecosystem.

The company stated that it will always be ready to re-update RSV’s basket should USDC run into problems or other tokens become reliable enough to further diversify RSV’s support. This move highlights the importance of being able to dynamically update asset-backed currency collateral baskets.

The team believes this decision is a safe course of action for RSV during this time.

The company’s decision to switch to USDC as the sole support for RSV may have implications for its users. However, Reserve has assured its users that the change is necessary and will not affect their future intentions to switch to RTokens.

With the sanctions decision taken by the SEC against the Binance USD token, the eyes were turned to other stablecoins in the market. Especially the concepts such as “APY”, “yield”, “reward” are among the arguments defended by the SEC, that companies that advertise their stablecoins sell securities and that sanctions should be applied.

However, there were allegations that it was USDC distributor Circle who filed a complaint against BUSD with the SEC. Binance CEO CZ said that he does not believe these claims are true because they could hurt USDC.

*Not investment advice.

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