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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New Dual Investment Products Launched (2023-11-07)
https://www.binance.com/en/support/announcement/f1981a8ba0b341c0ae45be8ea2929a0c

New Dual Investment Products Launched (2023-11-07).