Binance USD vs USDQ vs BitBay
What problem does this service solve?
Binance USD allows traders to convert US Dollars to a digital version without trading fees. | USDQ is a stablecoin designed to facilitate investing in blockchain projects. | BitBay's goal is to create a stable cryptocurrency that is not pegged to another asset. |
Token Stats
Company Description
Binance USD stablecoin is backed by US Dollars, and is issued in partnership by Binance and Paxos. The coin is approved by the New York State Department of Financial Services (NYDFS), and allows traders to convert US Dollars to a digital version without trading fees. | USDQ is a stablecoin that is pegged to the US Dollar and is collateralized with Bitcoin. USDQ was issued by a company called Platinum Securities that offers STO and market making services. | BitBay is developing a decentralized marketplace based on a non-colateralized stablecoin. Unlike other stabelcoins, BitBay is stabilized with a dynamic peg that is meant to reduce volatility without anchoring the price to another asset. The network has a Proof-of-Stake (PoS) consensus mechanism. |