While originally created as a token to pay for discounted trades, Binance Coin can now be used for payments, as well as purchasing various goods and services. The issuance of the currency, called SOL, is capped at 480 million coins. Launched in March 2020, Solana is a newer cryptocurrency and it touts its speed at completing transactions and the overall robustness of its “web-scale” platform. Like Tether, USD Coin is a stablecoin pegged to the dollar, meaning that its value should not fluctuate. The currency’s founders say that it’s backed by fully reserved assets or those with “equivalent fair value” and those assets are held in accounts with regulated U.S.

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