Binance Bridged USDT (BNB Smart Chain) (BSC-USD)

Binance Bridged USDT (BSC-USD) is a BEP-20 token that runs on the BNB Smart Chain and represents Tether’s USDT within that ecosystem. Rather than being issued directly by Tether, BSC-USD is minted by Binance against reserves of native USDT held off the BNB Smart Chain, creating a bridged, 1:1-pegged version of the stablecoin that can circulate and settle on BNB Smart Chain. The contract is sometimes referred to by its legacy nickname “BUSD-T,” but it is unrelated to the Paxos-issued BUSD stablecoin, which has since stopped minting.

Because Binance controls the custody of the underlying USDT reserves and the minting and redemption of BSC-USD, the token’s peg and availability depend on Binance’s operations, and the underlying USDT itself remains subject to Tether’s ability to freeze or blacklist addresses. On BNB Smart Chain, BSC-USD is widely used as a settlement and trading asset across decentralized exchanges, lending markets, and other DeFi applications such as PancakeSwap.