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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Updates on Binance Loans Stable Rate Services (2024-09-02)
https://www.binance.com/en/support/announcement/b194372fc7e0452cab14902e1fdb3dd6

Updates on Binance Loans Stable Rate Services (2024-09-02).