By George Ward
The top global crypto exchange — Binance, has announced the successful integration of BUSD on the TRON network. It implies Sun’s TRON network has been accepting withdrawals and deposits for Binance-peg BUSD stablecoin. Hence, users can trade BUSD via the BNB chain, Polygon, TRON network, and Avalanche.
Binance-Peg BUSD Stablecoin Now Available On TRON Network
As stated on the Binance blog, the Binance-peg BUSD is an enclosed variety of BUSD issued by Binance, which is now integrated into the TRON network alongside the Paxos-issued BUSD based on the Ethereum blockchain. Consequently, traders can transact on the Binance-Peg BUSD or Paxos-issued BUSD via TRON Network.
Earlier, Zhao mentioned that the Paxos-issued BUSD had been the subject of scrutiny by the authorities in the United States. Various blockchains, which include Polygon, BNB Chain, and Avalanche, have issued Binance-Peg BUSD independently and pegged the token to BUSD on a one-to-one ratio.
The new token can be bought on networks like Ethereum, TRON, Polygon, BNB Chain, and Avalanche. Meanwhile, Ripple’s XRP recently overtook BUSD as the sixth-ranked token based on market cap.
The value of Ripple’s XRP surged significantly following recent intense buying pressure from XRP shark and whale addresses. These are addresses currently holding one million to ten million XRP tokens, and their holdings hit a new all-time high earlier this week.
Recent Positive News For Binance
Binance has been in the news for primarily positive reasons this week. Earlier in the week, German car maker, BMW, announced that it would be using the BNB chain to settle transactions in BNB following the launch of its blockchain-built loyalty program.
Also, Binance announced its intention to purchase the digital assets of the bankrupt crypto lender, Voyager. However, the acquisition is awaiting the approval of the appropriate authorities.
Nevertheless, it hasn’t been all positive for the top exchange, as reports of allegations against it circulated on social media earlier this week. However, the Binance chief has since clarified the situation.
According to him, Binance is helping us legal enforcement agencies with a money laundering investigation, and it’s not the exchange that is under investigation for money laundering activities.