BitTorrent Inc users can now buy goods and memberships on the platform with the stable currency supported by USD from the main crypto exchange Binance, BUSD.
In a shared press release today, the popular decentralized peer-to-peer company announced the introduction of the new cryptocurrency to its platform – the USD-backed stablecoin (BUSD) from Binance.
This is possible with the help of the integrated payment gateway provider for cryptocurrencies: CoinPayments.net. Consequently, BUSD becomes the sixth digital asset accepted by BitTorrent. Previous ones were BTC, OKB, TRX, BTT and Binance's first native digital asset: Binance Coin (BNB).
According to the statement, BUSD users are eligible to purchase subscriptions for BitTorrent or µTorrent Classic products. These include the Pro version, which provides enhanced malware protection, no ads, an HD media player, file conversion, and premium customer support.
In addition to the addition of BUSD, the announcement reported that BitTorrent and uTorrent will replace the ERC-20 version of BNB with BEP2 "faster and more liquid" as a payment option. The replacement comes after the recently announced adoption of Binance Chain by CoinPayments.net and "is expected to improve the experience for BNB users by subscribing to Classic Pro."
Binance Chief Compliance Officer Samuel Lim commented on the news and said that BUSD, being a stable currency regulated by NYDFS, is the right payment tool for BitTorrent. Additionally, he believes this will help the stablecoin continue to grow in use and adoption cases within the industry.
Lim added that "by maintaining a stable and built value for convenient global transfers, stablecoins like BUSD will become the preferred payment option in the near future."
Today, we are pleased to accept BUSD as another digital payment option for Classic Pro for BitTorrent and µTorrent users. Using BUSD or other supported cryptocurrencies, millions of customers can unlock powerful features like malware protection from our popular desktop torrent clients. ” – noted BitTorrent and TRON CEO Justin Sun.