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Paxos Completes $7.9B Redemption of Binance USD (BUSD) in 32 Days

Blockchain and tokenization infrastructure platform Paxos announced that it has completed redemption of over $7.9B Binance USD (BUSD) in 32 days. 

According to the press release, Paxos will continue to support BUSD in circulation for at least one year. "All BUSD remains fully-backed 1:1 with USD cash & cash equivalents held in custody with the company’s NYDFS Trust", the firm said.

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