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 Liquid Swap & Auto-Invest System Upgrade Notice (2023-07-19)
https://www.binance.com/en/support/announcement/1b63570a4a1344d896761ce160cffade

Binance Liquid Swap & Auto-Invest System Upgrade Notice (2023-07-19).