BUSD is now supported on Polygon and Avalanche networks.
Cryptocurrency exchange Binance’s stablecoin, BUSD, will now appear on Avalanche and Polygon networks.
BUSD Supported on Two More Blockchains
The exchange said in its announcement today that BUSD can be discovered “safely” and “efficiently” on the Avalanche and Polygon networks.
#BUSD is now available on $AVAX and $MATIC networks!
#Binance has completed the integration of $BUSD on both networks, with deposits and withdrawals now open.Read more ⤵️https://t.co/h0ur3enqmQ
— Binance (@binance) September 20, 2022
Binance first launched BUSD on the Ethereum network in agreement with Paxos in September 2019.
BUSD currently has the distinction of being the seventh largest cryptocurrency in the world by market cap. According to CoinMarketCap data, the total market cap is around $20.5 billion.
Binance announced earlier this month that TUSD, USDC and USDP deposits will be converted to BUSD. The company noted that they felt the need to make such a change in order to increase liquidity.
The removal of competing stablecoins from the platform could spark increased interest in BUSD. Circle CEO Jeremy Allaire thinks it could be better for USDC.
Following Binance’s move, India-based cryptocurrency exchange WazirX also announced that TUSD, USDC and USDP deposits will be converted to BUSD.
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