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What is BUSD Coinbase?
BUSD Coinbase is a stablecoin developed by the cryptocurrency exchange company, Coinbase. It was created in collaboration with the financial services firm Paxos to provide users with an easier way of exchanging assets and converting them into USD without having to pay conversion fees or wait for bank transfers. The coin is backed 1:1 by US dollars held in FDIC-insured banks and allows users to move funds quickly between exchanges through low transaction fees and fast settlement times. BUSD can also be used as collateral on other digital asset platforms such as Loopring, AAVE, Compound, MakerDAO, and Uniswap so that traders can access liquidity more easily.
