Top crypto exchange Binance has recently announced that the integration of Binance-Peg BUSD on the TRON network has been successfully executed. The TRON network is currently accepting both deposits and withdrawals for the Binance-Peg BUSD trading pair. Customers now have access to the BUSD stablecoin, which can be used on the BNB Chain, Avalanche, Polygon, and TRON networks.
According to the official announcement, the Binance-Peg BUSD which is a wrapped version of BUSD offered by Binance, extends the supported blockchain networks to include TRON; in addition to the BUSD that was issued by Paxos on the Ethereum blockchain. Users will now have the ability to transfer BUSD and Binance-Peg BUSD across the TRON network as a result of this development.
The CEO of the company, Changpeng Zhao, commonly referred to as “CZ”, has previously stated that the BUSD stablecoin is issued by Paxos and is subjected to scrutiny and regulation by the United States authorities.
Other blockchains including BNB Chain, Polygon, and Avalanche, Binance independently issues Binance-Peg BUSD and pegs the tokens to BUSD in a 1:1 ratio. Binance-Peg BUSD can be traded on other networks, including TRON, Ethereum, Avalanche, and Polygon, in addition to the BNB Chain network.
Recently, BUSD was flipped by Ripple’s XRP token to clinch the 6th spot by market cap. This comes at a time after massive whale activity was observed, with the number of XRP whales & shark addresses holding 1 million to 10 million tokens hit a new all-time high recently.
Read More: Will Ripple’s XRP Price Pump To $1 In The Massive 2023 Rally?
In other developments, the TRON DAO has made the announcement that it would be joining the Enterprise Ethereum Alliance (EEA). As a member of the EEA, TRON DAO will collaborate with the EEA and its other members to expedite the pace at which Ethereum would be adopted by businesses and create commercial breakthroughs.
Also Read: Shiba Inu (SHIB) Price To Surge After Reaching This New Milestone?
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