![]() Pegged Coins Bring Stablecoins to Binance Smart Chainīinance Smart Chain is a smart contract-enabled parallel blockchain to Binance Chain, which allows for cross-chain swaps from original chains into so-called “pegged coins” on Binance Smart Chain. Pegged coins are backed 1:1 by reserves of the original token to enable the use of the digital asset on Binance Chain and Binance Smart Chain. Using the Binance Bridge, crypto holders can seamlessly convert an ERC-20 USDT token on Ethereum to a BEP-20 USDT token on Binance Smart Chain. The cross-chain swap takes just minutes and enables you to convert Ethereum or Tron-based stablecoins to Binance Smart Chain with ease. In the example above, we are swapping 1,000 ERC-20 USDT to 1,000 BEP-20 USDT. The same principle applies when you want to peg-out from Binance Smart Chain and swap your coins back to ERC-20 tokens, for example. The three most recognized and widely used stablecoins on Binance Smart Chain are USDT, USDC, and BUSD. ![]() Tether USD (USDT) is the market-leading dollar-backed stablecoin (with over $30 billion in circulation). In the form of a pegged BEP-20 token, USDT can be deployed on Binance Smart Chain in a wide range of DeFi protocols. USD Coin (USDC) is the fastest-growing fully reserve stablecoin backed 1:1 by US dollar reserves held in regulated financial institutions in the United States. As a BEP-20 token, USDC is a popular price-stable asset in BSC’s DeFi lending market. BUSDīinance USD (BUSD) is Binance’s very own dollar-backed stablecoin that was launched to provide a Binance-native alternative to other leading stablecoins.
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