Major file sharing service, operating under Tron (TRX) developer, BitTorrent has added Binance’s USD stablecoin, BUSD as a payment option.
On July 9 an announcement highlighted that BitTorrent users will now able to buy BitTorrent and µTorrent Classic Pro with BUSD and Binance’s native token, BNB.
If you hold #BUSD or #BNB, you can purchase BitTorrent Classic Pro to get malware protection, no ads and much more. To celebrate, we are offering 25% off crypto-based purchases of Pro for a limited time. Buy today at https://t.co/FPuy1oEMhl #BTT @Binance pic.twitter.com/dh2xsCesw0 — BitTorrent Inc. (@BitTorrent) July 9, 2020
With the new addition, BitTorrent now features six crypto payment options on its platform.
Binance’s BUSD joins the list of already supported cryptocurrencies including:
Bitcoin (BTC)
BitTorrent’s utility token (BTT)
Okex’s (OCB)
TRX
BNB
Along with the BUSD addition, BitTorrent and µTorrent have also replaced the ERC-20 BNB token with the faster and more liquid BNB (BEP2) as a payment option.
BEP2 is expected to improve the experience for BNB users when subscribing to Classic Pro.
The development is a result of Binance and CoinPayments.net collaboration announced in May 2020.
As a part of the announcement, BitTorrent is offering upto 25% off all crypto-based Pro purchases.
BUSD is apparently the first stablecoin featured on BitTorrent for payments.
Samuel Lim, chief compliance officer at Binance, highlighted that BUSD token is regulated by the New York Department of Financial Services (NYDFS):
“We are thrilled to work with BitTorrent to offer BUSD, a NYDFS regulated stablecoin as one of the main payment options for purchasing Classic Pro […] Holding stable value and built for convenient global transfers, stablecoins like BUSD will become the preferred choice of payments in the near future.”
Source: Cointelegraph | Image: Unsplash