Binance Clarifies BFUSD Is Not a Stablecoin and Remains Unlaunched

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The story "Binance Clarifies BFUSD Is Not a Stablecoin and Remains Unlaunched" was covered 13 hours ago by TheNewsCrypto, a news publisher based in United Arab Emirates.

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TheNewsCrypto 13h ago

Binance Clarifies BFUSD Is Not a Stablecoin and Remains Unlaunched - TheNewsCrypto

Quick Summary:

Binance’s announcement of a new asset, BFUSD, has sparked intense discussions in the crypto community.

Although the platform advertised BFUSD as a high-yield margin asset with a 19.55% annual percentage yield (APY), many initially mistook it for a stablecoin due to its name and promotional comparisons to similar assets.

As of now, Binance has stated that the asset boasts a 105.54% collateralization ratio, backed by 1.1 million USDT.