# BUSD

Binance USD, which is also known as BUSD, is **a U.S. dollar stablecoin issued by crypto exchange Binance and blockchain company Paxos Trust**. Similar to rivals USDC and tether (USDT), the BUSD stablecoin maintains a price of one U.S. dollar at all times through its backing of fiat reserves.

***Important Update:***

Binance will gradually cease support for BUSD products. Read more [here](https://www.binance.com/en/support/announcement/binance-encourages-users-to-convert-busd-to-other-stablecoins-prior-to-february-2024-d392843e81fd4bc3a5f7e219aa01f34d).