Binance explains BUSD transparency: BUSD circulation currently has 23.4 billion pieces, and each Binance-Peg BUSD represents one BUSD

Binance wrote an article to explain the transparency of BUSD. BUSD was issued by Paxos with the brand support of Binance on Ethereum at a 1:1 anchoring of the US dollar, and was approved by the New York Department of Financial Services (NYDFS). Paxos' BUSD reserves are backed only by cash and short-term U.S. Treasuries, and client assets are protected from bankruptcy and segregated from company funds. Binance-Peg BUSD is a wrapped version of BUSD offered by Binance in BNB Chain, Avalanche, and Polygon. According to Etherscan data, as of November 25, the circulation of BUSD reached 23.4 billion, of which 5.3 billion BUSD was locked on Ethereum, and about 5.3 billion Binance-Peg BUSD was issued in other networks (including on BNB Chain) 4.85 billion, 9.5 million on Avalanche, 4 million on Polygon). Native BUSD locked on Ethereum is close to Binance-Peg BUSD circulating supply.