Binance has reached a cooperation with Blockchain Foundry, a blockchain developer, to jointly explore more application scenarios for Binance USD (BUSD). BUSD is launched on the network of the blockchain project Syscoin. Syscoin provides Ethereum exchange tools, which will provide BUSD users with fast, scalable and low-cost transaction services. The chain notes that BUSD is a compliant stable currency jointly issued by Binance and Paxos with a 1:1 exchange rate anchored to the U.S. dollar. It is licensed and regulated by the New York Department of Financial Services (NYDFS).