BitTorrent Enables Support For Binance’s BUSD Stablecoin: Report

BitTorrent enables support for the Binance stablecoin BUSD along with uTorrent, as a payment means for subscription on the platform, as we are reading further in the upcoming Binance coin news today.

BUSD or Binance’s USD stablecoin is the latest crypto payment option added to the BitTorrent platform as a part of the latest update from the peer-to-peer file sharing service in supporting six crypto tokens. Justin Sun, the CEO of Tron, acquired BitTorrent back in 2018 triggering the pivot of the platform towards blockchain space. P2P file sharing and permissionless value transfers share a similar idea with the former being one of the markets primed for more blockchain adoption.

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

Now, BitTorrent enables the users to spend their BUSD coins to pay for subscriptions on the platform which also extends to the uTorrent Pro accounts. The addition of BUSD as a payment option came as a result of the partnership with crypto service CoinPayments.net. BUSD is the first stablecoin to be accepted on the platform and to join other coins such as Binance Coin, Bitcoin, TRON, and OKEx. The Binance chief compliance officer Samuel Lim remarked:

 “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. BUSD continues to grow in use cases and adoption within the industry. Holding stable value and built for convenient global transfers, stablecoins like BUSD will become the preferred choice of payments in the near future.”

Apart from enabling BUSD as a payment option, Bittorrent announced the replacement of the BNB ERC20 token with BNB BEP2 because it is more liquid. BUSD payments can be used to subscribe to BitTorrent and uTorrent classic including ad-free features. The subscription offers customer support, file conversion, and malware protection among other things. Since the acquisition, the P2P file sharing service was interfacing with blockchain and crypto and the TRX-based token opened up for crypto adoption by adding 100 million users. Back in 2019, the Tron blockchain was becoming more appealing because of the influx of user adoption as Sun stated:

 “Today we are pleased to accept BUSD as another digital payment option for Classic Pro for both BitTorrent and µTorrent users. By using BUSD or our other supported cryptocurrencies, millions of customers can unlock powerful features such as malware protection from our popular desktop torrent clients.”