Binance exchange has confirmed its support for the Binance USD (BUSD) stablecoin but is considering exploring other options in the future.
The move comes after the New York Department of Financial Services ordered Paxos, the issuer behind BUSD, to stop issuing the stablecoin.
Binance CEO Changpeng Zhao said the exchange will continue to support BUSD for the foreseeable future, but will be monitoring the situation and making necessary product adjustments, such as potentially moving away from using BUSD as the main pair for trading.
Binance may also consider exploring other stablecoin issuers and non-USD-based stablecoins.
