Binance USD (USD) is a stable coin issued by the regulated Paxos platform with the support of the Binance cryptocurrency exchange. It is pegged to the US dollar and backed by real currency in bank accounts, which is confirmed by monthly checks. Binance USD is one of the few digital currencies approved by the NYDFS (New York State Financial Services Authority).

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Binance Launches $30,000 P2P Trading Competition
https://www.binance.com/en/support/announcement/8c39c13af0154a25b391a3c1b32fbd7a

Binance Launches $30,000 P2P Trading Competition.