Changpeng Zhao (CZ), CEO of Binance, the world’s largest cryptocurrency exchange, has cleared up the question marks about Binance USD (BUSD) in the last days.
Binance CEO CZ attended the AMA on February 14. in the eventBUSD that it only carries the Binance brand except this operational processes And issuance of Paxos He stated that the stablecoin was not issued by Binance. Stating that they gave permission to Paxos to use their brands, CZ moved the exchange away from BUSD.
Following the decision of NYDFS to cease production of BUSD, CZ agreed to the decision. that they respect and working with other stablecoin issuers they will continue stated.
in the industry addressed to him. gold-based This scenario was responded to the request for ideas on the use of stablecoins. find it reasonable CEO, currently user habits still fiat money Therefore, USD-backed stablecoins still for the industry quite important stressed that. The CEO also said that the future of the cryptocurrency industry tied to the US dollar to stablecoins your addiction by reducing Japanese Yen, Singapore Dollar and Euro based will turn to alternatives suggested.
Another stablecoin issuer of the circle BUSD issued by Paxos 1:1 in proportion does not guarantee to NYDFS, citing make a complaint allegations of having not taking it seriously Expressing that, CZ said that two actors operating in the sector will make such moves. don’t believe stressed.