What are USDC and BUSD?

Basic information on stablecoins.

Updated over a week ago

What is USDC?

USDC was launched in 2018 and it is now the world’s second-largest stablecoin with over 50 billion USD market capitalization.

USDC has a variety of uses in the crypto marketplace, but is commonly deployed in decentralized finance (DeFi) protocols, transactions between major financial institutions, and holding assets by crypto traders.

To fulfill various business and personal purposes, XREX users leverage different stablecoins on multiple platforms. Adding USDC helps our users to save time, fees, and effort to receive, send, and convert between stablecoins.

Global businesses can use USDC for near-instant payouts to vendors and suppliers, and direct deposit payroll for employees. Remittance companies, eCommerce marketplaces, video game studios, DAOs, and others use USDC to enable faster, more efficient payments.

Further, users can connect their international bank accounts. Convert stablecoins to USD and withdraw USD to bank accounts directly. All can be done on the XREX app at your fingertips.

Source: Circle

What is Binance USD (BUSD)?

Basic information:

Token name: Binance (USD)

Issuer: Binance

Supply: 345 million

Description:

Binance USD (BUSD) is a 1:1 USD-backed stable coin issued by Binance. As of June 30, 2022, 96% of the assets backing the Binance USD were held in cash and cash equivalents, while 4% were invested in U.S. Treasury bills.

Important links:

** Please note that the images and videos displayed here may not always reflect the most current version of the XREX App. For the latest updates, we encourage you to refer directly to the XREX App. **

We are glad to offer more coins and tokens to our users on the XREX crypto-fiat exchange. However, before investing in any cryptocurrencies, it is important to do one’s own research and have a comprehensive understanding as cryptocurrency trading is subject to high market risk.

Happy trading!

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