Betreasury Blockchain Company Launches BUSD Stablecoin With 100% Reserve Ratio
The popularity of stablecoins is growing in the world of crypto. One company that has turned to stablecoins is Betreasury- a blockchain firm that wants to develop an ecosystem for financial apps. After 3 years of research, it recently launched the BUSD stablecoin. This stablecoin is pegged 1:1 to the US dollar. This has been made possible using asset collateralization.
Ensuring Financial Stability
In an effort to create a decentralized ecosystem for the world of finance, Betreasury has made efforts to create the BUSD. This will ensure financial stability in their ecosystem. Just like other stablecoins such as Paxos and GUSD, which have been approved by the New York Department of Financial Services, the stablecoin could get approval too. It has undergone supervision from the regulators. The coin is also audited by third-party law and accounting firms.
This means that the BUSD can be used in lieu of fiat. This will offer crypto investors cheaper, faster, and freer trade. The BUSD wallet will also offer security and protection. It also ensures traceability for legal purposes. As a result, if a user has their assets stolen, they can be traced and recovered. This leads to better security of the assets.
The Goal Of BUSD
The BUSD is powered by the blockchain. It has a goal of offering institutions and individuals a better model for value exchange. Both issuers and participants can benefit from the consensus mechanism that is inherent in the blockchain. Thus, it will lead to transparent cross-region, cross-asset, and cross-app P2P real-time trade.
Given the value stability of the tokens, stablecoin popularity has grown. It is especially so due to wild price swings of other tokens. The main goal of Betreasury is to ensure BUSD is medium of exchange in the crypto and fiat world. Thus, it will create a decentralized and efficient asset exchange system for the whole world.
The BUSD Team
The team that works on the BUSD is quite diverse. It has a lot of experience in using blockchain tech. The CTO, Frank Li, has a Ph.D. He also works as a professor at California State University. Frank researches and teaches math and computer science. Frank has published over ten articles in major academic journals. He has also compiled two scholarly monographs. Others who work on the team are financial and blockchain experts that work at Huaqiang Capital, WestSummit Capital, KSF, UBSS Sydney, and Knight Asia & KS.
BUSD is a stablecoin that is on a 1:1 ration with the US Dollar. Initially, it will run on Ethereum. However, there are plans to move to the Fincubate blockchain in the future. This will be made possible via Graphene technology. It will lead to high transaction speeds that can support financial apps with a high frequency. All the BUSD in circulation will have a USD asset in the custody of a third party. Thus, customers can convert their BUSD for USD at will. The BUSD will function just like any other crypto.