BFUSD is already a reality in Binance” target=”_blank” rel=”noreferrer noopener”>Binancethe largest Bitcoin (BTC) and Cryptocurrency exchange in the world.
As reported by CriptoNoticias, yesterday, November 27, was the scheduled date for the launch of this new product on the platform. Binance.
The exchange has kept its promises and in the website The possibility of buying and redeeming BFUSD is now active.
It is reported right there, as can be seen in the internal image that accompanies this publication, that currently BFUSD is paying interest of 14% per year as a base. It is also clarified that this performance will not necessarily continue in the future.
Although in practice it works in a similar way, since it maintains parity with the US dollar, Binance has clarified that they do not consider BFUSD a stablecoin. This is because it is not a token that can be withdrawn from the exchangebut its use is limited to the platform.
Screenshot of the Binance platform, in the section dedicated to BFUSD. Source: Binance – Screenshot by CriptoNoticias.
On the interest paid, the yield comes delta hedging and staking of ether (ETH), the digital currency of the ecosystem Ethereum/” target=”_blank” rel=”noreferrer noopener”>Ethereum.
It is worth clarifying that each user of Binanceas read in the website“has a quota limit of BFUSD, and the quota size is based on the user’s VIP level.”
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