BitTorrent Inc users can now purchase goods and memberships on the platform with the USD-backed stablecoin of the leading cryptocurrency exchange Binance – BUSD.
In a press release shared with CryptoPotato earlier today, the popular decentralized peer-to-peer company announced the introduction of the newest cryptocurrency asset on its platform – Binance’s USD-backed stablecoin (BUSD).
This becomes possible with the assistance of the integrated payment gateway provider for cryptocurrencies – CoinPayments.net. Consequently, BUSD becomes the sixth digital assets accepted by BitTorrent. The 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 of BitTorrent or µTorrent Classic products. Those include the Pro version, providing enhanced malware protection, no advertisements, an HD media player, file conversion, and premium customer support.
Apart from the addition of BUSD, the announcement informed that BitTorrent and uTorrent will replace the ERC-20 version of BNB with “the faster and more liquid” BEP2 as a payment option. The replacement occurs following the recently announced adoption of Binance Chain by CoinPayments.net and is “expected to improve the experience for BNB users when subscribing for Classic Pro.”
Binance Chief Compliance Officer Samuel Lim commented on the news, saying that BUSD, being an NYDFS regulated stablecoin, is the proper payment tool for BitTorrent. Additionally, he believes that this will help the stablecoin keep growing in use cases and adoption within the industry.
Lim added that “holding stable value and built for convenient global transfers, stablecoins like BUSD will become the preferred choice of payments in the near future.”
“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 the powerful features such as malware protection from our popular desktop torrent clients.” – noted BitTorrent and TRON CEO Justin Sun.
