With the new addition, BitTorrent now totally 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, and BNB.
Alongside 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. According to the announcement, the development is a result of Binance and CoinPayments.net collaboration announced in May 2020.
As part of the announcement, BitTorrent is offering 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, outlined that BUSD token is regulated by the New York Department of Financial Services (NYDFS). He said:
“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.”
Cointelegrpah reached out to Binance with additional queries about the development. This article will be updated pending any new information.