BitTorrent Adds Binance's Stablecoin BUSD As Payment Option
By RTTNews Staff Writer | Published: 7/13/2020 10:23 AM ET
U.S.-based torrent client BitTorrent, Inc. has teamed up with major crypto exchange Binance to add its US dollar-backed stablecoin Binance USD (BUSD) as a payment option to purchase BitTorrent and µTorrent Classic Pro, Pro+VPN or Ad-Free. BUSD is a NYDFS regulated stablecoin.
Binance's native token BNB was already an option for payment. However, it is replacing the BNB token on Ethereum blockchain (ERC-20) with a faster and more liquid BNB token on Binance Chain (BEP2) as the payment option.
BUSD joins as the sixth cryptocurrency accepted by BitTorrent after TRX, BTC, BTT, OKB and BNB with the help of CoinPayments.net, a leading integrated payment gateway provider for cryptocurrencies. The replacement of BNB also follows the recently announced adoption of Binance Chain by CoinPayments.net.
The addition of the stablecoin as a payment option provides the speed of cryptocurrency with the stability of the U.S. dollar. This enables consumers to spend the volatility-free stablecoins at businesses around the world and also eliminates costs and delays of bank transfers or wires.
Stablecoin transactions are verified by a decentralized network and recorded on an immutable public ledger, providing security, efficiency and transparency of blockchain payments, while eliminating traditional payment fraud associated with credit cards.
Following the addition of BUSD and BNB (BEP2), BitTorrent has announced a discount of 25 percent for BitTorrent Classic Pro on all crypto-based purchases for a limited time.
BUSD users may purchase one-year subscriptions of BitTorrent or µTorrent Classic products, including Pro, Ad-Free, and Pro+VPN for Windows. Pro includes advanced malware protection, no ads, an HD media player, file conversion, and premium customer support.
By using BUSD or the other supported cryptocurrencies, millions of BitTorrent customers can unlock powerful features such as advanced malware protection for its popular desktop torrent clients.
San Francisco-based BitTorrent is the company behind the largest decentralized P2P communications protocol for distributing data and large files over the Internet. With over 100 million active users each month,the protocol is responsible for moving a significant percentage of the world's Internet traffic each day.
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Article written by an RTT News Staff Writer, and posted on the RTT News.com website.
Article reposted on Markethive by Jeffrey Sloe