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Binance Considers Other Stable Currencies Apart from BUSD

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On March 8, CZ, the founder of Binance, said in the AMA that Binance had not obtained any additional benefits from BUSD, and was currently considering stable c…

Binance Considers Other Stable Currencies Apart from BUSD

On March 8, CZ, the founder of Binance, said in the AMA that Binance had not obtained any additional benefits from BUSD, and was currently considering stable currencies other than US dollars, as well as other stable currency issuers.

CZ: Binance did not get any additional benefits from BUSD

Analysis based on this information:


Binance is a cryptocurrency exchange platform founded by Changpeng Zhao, popularly known as CZ. The platform has grown rapidly in the past few years, making it one of the largest cryptocurrency exchanges in the world. Binance has issued its own stablecoin, BUSD, which is pegged to the US dollar at a ratio of 1:1. CZ recently held an Ask-Me-Anything (AMA) session where he discussed Binance’s future plans.

During the AMA, CZ stated that Binance had not obtained any additional benefits from BUSD, meaning that there was no advantage for Binance in issuing its stablecoin compared to other cryptocurrencies. This statement was quite surprising, as BUSD has been one of the most popular stablecoins in the market, with many users preferring it due to its stable peg to the US dollar.

CZ also mentioned that Binance was considering other stable currencies apart from the US dollar, and was open to working with other stablecoin issuers. This move is part of Binance’s strategy to diversify its stablecoin offering and increase its user base.

The decision to consider other stable currencies apart from BUSD could be due to concerns about the stability of the US dollar in the long-term. The US dollar has been under pressure due to the large amount of debt the country has accumulated and the ongoing economic uncertainty caused by the Covid-19 pandemic. This has led to some experts predicting that the US dollar could lose its position as the world’s reserve currency in the coming years.

In conclusion, Binance’s decision to consider other stable currencies apart from BUSD is a smart move that shows the platform’s commitment to adapt and evolve with changing market conditions. This move could also attract more users to Binance who prefer stablecoins pegged to other currencies apart from the US dollar. However, it remains to be seen which stablecoins Binance will roll out next and how they will compete with BUSD in the stablecoin market.

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