As stable coins are becoming more and more sought-after in the cryptocurrency world, Betreasury, a blockchain company developing a crypto-ecosystem for financial applications, after 3-years of intensive research, has launched stable coin BUSD, which is pegged 1:1 to USD via asset collateralization.
In a bid to build the next generation decentralized financial ecosystem and asset transformation payment, Betreasury has been making efforts to develop BUSD, the first Dapp running on the blockchain Fincubate. BUSD is a cryptocurrency that is issued with USD as collateral (1 BUSD equals 1 USD).
To ensure financial stability, the company has guaranteed a US dollar behind every BUSD in capital reserve, ensuring a 100% reserve ratio. Also, just like stablecoins GUSD and Paxos, which have granted approval from the New York Department of Financial Services (NYDFS), BUSD has also been receiving supervision from financial regulatory bodies, and is strictly audited by accredited third-party accounting and law firms.
BUSD can be used as a substitute for fiat currency, providing cryptocurrency investors with faster, cheaper, and more free trades. BUSD’s wallets also provide smart security and protection and legal traceability to ensure that user assets can be recovered in the event that they are stolen, greatly increasing the exchange’s asset security.
Powered by blockchain technology, BUSD aims to provide both individuals and institutions with a new method for transaction value. Both the issuer and market participant can take advantage of the consensus mechanisms inherent to blockchain to realize fully transparent cross-region, cross-asset or cross-application P2P trades in real time. Given the nature of the tokens’ value stability, stable coins have become popular as other crypto tokens tend to see wild fluctuation in value.
The ultimate goal of Betreasury is for BUSD to become the medium of exchange across cryptocurrency and fiat currency to form an efficient and decentralized global asset exchange system.
The team behind BUSD is incredibly diverse and has established and rich experience in blockchain technology. CTO Frank Li holds a PhD and is a professor at South Carolina State University, where he teaches and researches both mathematics and computer science. Dr. Li has published more than ten articles in well-known international academic journals and has compiled two scholarly monographs: “The Handbook of Security and Networks” and “The Handbook on Sensor Networks”. Other team members include blockchain and financial experts from UBSS Sydney, Knight Asia & KS, KSF, WestSummit Capital, and Huaqiang Capital.
BUSD is a cryptocurrency which has 1:1 parity to the US dollar. It will initially run on the Ethereum blockchain, but future transactions will be performed on the Fincubate (FCB) Financial Blockchain using Graphene technology to realize a high throughput capable of supporting high-frequency financial applications. One-hundred percent of BUSD in circulation has a corresponding US dollar asset in the custody of a third party financial trust, and customers can convert between BUSD and US dollars at any time. As soon as BUSD is issued, it can be used with BUSD wallets for a range of purposes, including transactions, payments, wiring and reserves, just like any other cryptocurrency. Unlike most other cryptocurrencies, however, the fact that BUSD is backed by the US dollar provides comparatively stable purchasing power.