Binance USD (BUSD) is a fiat-collateralized stablecoin launched in collaboration between Binance and Paxos in September 2019.

Binance (BUSD) is the first stablecoin launched as part of Binance’s Venus project. It was also revealed at the time of launched that NYDFS had approved the new offering, which Binance is launched in partnership with the Paxos.

BUSD is issued by Paxos, a New York – regulated financial institution led by CEO and Co-Founder Charles Cascarilla, the Paxos team consists of individuals from various backgrounds and experiences ranging from Wall Street to Silicon Valley.

Changpeng Zhao - Founder and CEO at Binance and Charles Cascarilla - Co-Founder and CEO at Paxos, are the key contributors of Binance USD (BUSD).

Changpeng Zhao – Founder and CEO at Binance

Changpeng Zhao, also known as CZ, is a Chinese-Canadian business executive and Founder and CEO of Binance. CZ was previously a member of the team that developed Blockchain.info and also served as chief technology officer of OKCoin.

Charles Cascarilla – Co-Founder and CEO at Paxos

Charles Cascarilla has over 15 years of experience in financial services. He co-founded institutional asset management complex Cedar Hill Capital Partners in 2005 and its venture capital subsidiary, Liberty City Ventures, in 2012.