BFUSD

A dollar-denominated settlement asset circulating inside Binance's own infrastructure, used mainly as collateral for derivatives trading. It belongs to the stablecoin family — assets whose price is held near an external reference — but unlike public coins such as USDC it lives within a single venue, not in open decentralised-finance protocols. Issuance, accrual and redemption terms are set by the exchange, whose documentation is the place to verify them: the risk here is corporate, resting on the company rather than on contract code.