Binance Gets Stablecoin Busd Approval from New York State Regulator

Popular cryptocurrency exchange Binance received approval from the New York State Financial Services Authority tostablecoin Binance USD (BUSD), pegged to the US dollar.

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BUSD Launched in September with SupportPaxos, responsible for holding fiat reserves and issuing a “stable coin.” Currently, the market capitalization of Binance USD is $ 17.1 million (151th place in the CoinMarketCap ranking).

Binance also today launched unlimited contracts for the XRP token paired with USD with a leverage of up to 75x.

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Against the backdrop of this event, the price of an asset from Ripple increased by almost 10%:

Data: CoinMarketCap

Among other things, Binance announced delistingseveral trading pairs with stablecoin USD Coin. ALGO / USDC, FTM / USDC, ONT / USDC, XLM / USDC, USDS / USDC will be deleted tomorrow, January 7th. However, the listed assets will be available for trading with other coins.

Recall that in December Binance increased the maximum leverage for Ethereum futures to 75x.