Binance explains BUSD transparency: The current circulation of BUSD is 23.4 billion, with each Binance-Peg BUSD representing one BUSD

ChainCatcher message, Binance explains BUSD transparency. BUSD is issued on Ethereum at a 1:1 peg to the US dollar, supported by Paxos under the Binance brand, and has been approved by the New York Department of Financial Services (NYDFS). Paxos's BUSD reserves are backed solely by cash and short-term U.S. Treasury bills, protecting customer assets from bankruptcy and isolating them from company funds. Binance-Peg BUSD is the wrapped version of BUSD offered by Binance on BNB Chain, Avalanche, and Polygon.

According to Etherscan data, as of November 25, the circulating supply of BUSD reached 23.4 billion, of which 5.3 billion BUSD is locked on Ethereum, while approximately 5.3 billion Binance-Peg BUSD is issued on other networks (including 4.85 billion on BNB Chain, 9.5 million on Avalanche, and 4 million on Polygon). The native BUSD locked on Ethereum is close to the circulating supply of Binance-Peg BUSD. (Source link)