The world’s largest crypto exchange, Binance, has <a href="https://medium.com/elrondnetwork/binance-leverages-the-elrond-blockchain-for-fast-inexpensive-busd-stablecoin-transfers-da73d0d5cec3" target="_blank" rel="noopener">collaborated</a> with the Elrond blockchain network developer, and now Binance-backed USD-pegged stablecoins (BUSD) would also be available on the Elrond Network for trading.
<h2>Elrond Performs 1000x Better Than Other</h2>
Elrond stated that it provides high throughput processing capacity which helps its blockchain network to improve the performance and usability. According to the firm, its blockchain gives 1,000x better performance than the existing blockchains.

Recently, the Chief Compliance Officer at Binance, Samuel Lim, has stated, “We have been seeing a steady increase in the number of BUSD holders, exchange listings, DeFi offerings and real-world applications”.

Lim adds that the company believes that the popularity of BUSD will continue to grow more.

Currently, only the Binance exchange supports the trading of BUSD tokens on its network. 

In September 2019, Binance partnered with Paxos Trust Company to create BUSD tokens. A report suggests that the Ethereum-based stablecoin is supported by the US dollar and Paxos.

Currently, the value of Paxos has increased to $100 million.
<h2>Binance Supports Elrond</h2>
While developing BUSD, <a href="https://www.cryptoknowmics.com/news/buy-crypto-with-inr-from-binance-p2p/">Binance</a> would use the Standard Digitial Token model of Elrond. The model by Elrond permits the blockchain games and other Dapps to escalate million of transactions in per second.

The Binance and Samsung are the top partners of Elrond and recently, they propelled adoption strategy which the company has cleared.

Since a long time, Binance has been supporting the Elrond projects and it has also invested $3.25 million in a funding round together with Electric Capital and NGC Ventures, organized by Elrond.

Before collaborating with Binance, Elrond was a bit popular among the crypto traders, as it launched the DEX for them.

Regarding the collaboration with Binance, the CEO of Elrond, Beniamin Mincu, has stated that soon their platform would be introduced into the market and then the availability of BUSD on the network would put its high-performance capability to great use.

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Binance Merges With Elrond Blockchain To Add BUSD On Its Network

Binance has collaborated with the Elrond blockchain network developer, and now BUSD would also be available on the Elrond Network for trading.

Jyoti is a graduate from GGSIPU and has done her PG Diploma in English Journalism from IIMC. Presently, she is working as a content writer with Agio Support Solution Pvt. Ltd. Her aim is to provide informative content about cryptocurrency and blockchain, to the tech-enthusiasts.

Binance Merges With Elrond Blockchain To Add BUSD On Its Network

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