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 Pool Launches 8th Phase of Dual Savings Products
https://www.binance.com/en/support/articles/c7b83dcfc5ae429396274779b23dad2e

Binance Pool Launches 8th Phase of Dual Savings Products.