1.New York State Department of Financial Services Approves Binance’s Stablecoin
2.Baidu superchain blockchain Launches open network to Help Developers, Biz Build Dapps.
1.New York State Department of Financial Services Approves Binance’s Stablecoin
Global crypto exchange Binance has received approval from the New York State Department of Financial Services (NYDFS) for its USD-pegged stablecoin BUSD. The Announcement is published via Binance Twitter post on January 06, 2020.
Users would now be able to purchase USD-supported stablecoin however it exchange. They would now be able to convert BUSD into four different stablecoins, USDT, USDC, TUSD. This will empower New York residents to “purchase, convert, and trade” the stablecoin against USD.
$BUSD – #Binance‘s USD-backed stablecoin approved by the New York State Department of Financial Services (NYDFS).
Purchase, convert and trade!
?https://t.co/20EjHHfVAh pic.twitter.com/jQUaaffBuP
— Binance (@binance) January 6, 2020
The BUSD is a coin created in partnership with the Paxos Trust Company and the Gemini Dollar. On account of other currencies, the stablecoin is supported by ERC-20 and BEP-2 tokens, and it enables users to transfer dollars around the world at low cost and promptly.
Aside Binance family exchange platforms, the stablecoin can be traded on a number of platforms like HitBTC, BitPay, Changelly and Coinchase, among others.
What is BUSD
Highly regulated 1:1 USD-backed crypto stablecoin:-These are digitised US Dollars and are always purchased and redeemed at 1 BUSD for 1 US dollar.
Purchase and redeem with Zero Fees:-Binance and Paxos don’t charge a fee for the purchase or redemption of Binance USD (BUSD) However bank charges/wire fees may apply.
Transfer globally, fast and low-cost:-Supported on both ERC-20 and BEP-2; transfer your dollars anywhere in minutes, with low cost and on the blockchain.
How to buy and redeem BUSD?
- Click on “How to buy BUSD”
- Purchase with your local fiat currency: Wire transfer with US dollar (using Paxos services), or top up your Binance fiat wallet with different currencies to exchange for BUSD. (e.g., top-up RUB, then trade RUB/BUSD)
- Multiple trading pairs such as BTC, BNB, ETH, XRP, LTC, etc. for BUSD
- One-click stablecoin conversion. Easily convert your other stablecoins 1:1 to BUSD.
Redemption: If you need to sell BUSD to withdraw US dollars,
- Use Buy and Sell function on Binance. For large redemptions, contact the Binance OTC desk
- Redeem via Paxos platform.
2.Baidu superchain blockchain Launches open network to Help Developers, Biz Build Dapps.
Chinese internet giant Baidu has launched an open blockchain network designed to enable small companies to economically launch and run decentralized apps, It is part of Baidu’s enterprise blockchain network Xuperchain and plans to attract smaller users with lower cost and technological barriers. The news is published via Chinese media report by STCN, a state-owned daily newspaper.
It gives users with an environment for quick deployment and operation of blockchain applications, and computing the flexible payment capabilities of resources such as storage and storage directly reduce user deployment and operation and maintenance costs, and make trust links more convenient.
According to reports, Baidu Super Chain Open Network has four major advantages.
- Self-sufficient security is highly reliable.
- it is flexible and convenient with low threshold.
- The cost of flexible payments is low.
- nodes are open and credible.
At present, 7 super nodes including Tsinghua University, iQiyi and other authoritative institutions have been introduced. Simultaneously , it is open to the community and has strong credibility.
As per Company’s website, Baidu’s super chain technology has strong network throughput, high concurrency and powerful verification capabilities, and expandable storage capabilities, which will secure your blockchain business in all aspects. the Superchain network has about 3.5 million users and has processed over 450 million transactions.
About Baidu
Baidu, Inc. is a Chinese multinational technology company expertise in Internet-related services and products and artificial intelligence, headquartered in Beijing’s Haidian District. It is one of the biggest AI and internet companies in the world. Baidu offers various services, including a Chinese search engine, as well as a mapping service called Baidu Maps. Baidu offers about 57 search and community services, such as Baidu Baike (an online encyclopedia) and a keyword-based discussion forum.
