Convert PUSD to JPY

Palm USD (PUSD) is a compliant, US dollar-pegged stablecoin specifically designed and optimized for the art and cultural industries, operating on the Palm Network.

Key takeaways

• Palm USD (PUSD) is a regulated, fiat-backed stablecoin pegged 1:1 to the US dollar.
• It is built on the Palm Network, an Ethereum-compatible sidechain focused on sustainability and the creative economy.
• PUSD is designed to facilitate low-cost, fast, and compliant transactions for artists, collectors, galleries, and cultural institutions.
• Its primary use cases include purchasing digital art (NFTs), paying for services, and enabling efficient royalty distributions within the creative sector.
• You can trade PUSD via its PUSD/USDT spot pair or PUSDUSDT perpetual contracts on the BTCC exchange.

What is Palm USD? Key Specifications & Tokenomics

Palm USD (PUSD) is a specialized stablecoin that brings the efficiency of digital dollars to the art and cultural world, operating on a blockchain built for creators.

Who created Palm USD (PUSD)?

Palm USD was developed by the team behind the Palm Network, an ecosystem initiative supported by major players in both the traditional art world and the blockchain space. The network itself was founded through a collaboration involving ConsenSys (a leading Ethereum software company), and has backing from notable entities in the art industry. The creation of PUSD involved establishing partnerships with regulated financial institutions to ensure proper fiat custody and minting/redemption processes, making it a compliant stablecoin solution tailored for a professional market.

How does Palm USD (PUSD) work?

PUSD operates as a fully-backed, regulated stablecoin. For every PUSD token in circulation, an equivalent amount of US dollars is held in reserve by a licensed custodian. This ensures the 1:1 peg to the US dollar. The technical process works as follows:

• Minting: An authorized partner deposits US dollars with the regulated custodian. Upon successful deposit and verification, an equivalent amount of PUSD is minted (created) on the Palm Network blockchain.
• Transactions: Users can then send, receive, and trade PUSD on the Palm Network. Because it's an EVM-compatible chain, it works seamlessly with wallets like MetaMask and supports smart contracts for complex applications like NFT marketplaces and royalty agreements.
• Redemption: To convert PUSD back to traditional currency, an authorized user can send their PUSD tokens to be burned (destroyed), triggering the release of the corresponding US dollars from custody.

This model combines the transparency and programmability of blockchain with the stability and regulatory oversight of traditional finance.

What makes Palm USD (PUSD) unique and valuable锛>

PUSD's value proposition is deeply tied to its niche focus and the infrastructure it uses.

• Industry-Specific Design: Unlike general-purpose stablecoins, PUSD is built for the art and cultural sector. It addresses specific needs like low transaction fees for high-value NFT sales, compliance for institutional players, and integration with art-focused platforms.

• Built on Palm Network: The Palm Network is a carbon-neutral, Ethereum-compatible sidechain. This gives PUSD significant advantages:

  • Low Cost & High Speed: Transactions are fast and cost a fraction of a cent, making micro-transactions and complex smart contract interactions feasible.
  • Sustainability: The network's Proof-of-Stake consensus is energy-efficient, aligning with the values of many artists and cultural institutions.
  • EVM Compatibility: It easily connects to the vast Ethereum ecosystem of wallets, tools, and developers.

• Regulatory Compliance: PUSD is designed with institutional use in mind. Its regulated, fully-backed model provides a level of trust and stability that galleries, auction houses, and artists require for serious financial operations.

What is Palm USD (PUSD) used for?

PUSD serves as the primary medium of exchange and store of value within the Palm Network ecosystem and the broader digital art economy.

• NFT Purchases: It is the native currency for many NFT marketplaces on Palm Network, used to buy and sell digital art and collectibles.
• Artist Payments & Royalties: Smart contracts can be programmed to pay artists, collaborators, and rights holders instantly in PUSD upon the sale or resale of an artwork, ensuring transparent and automatic royalty distributions.
• Platform Fees: Galleries and online platforms can use PUSD to pay for listing fees, commissions, and other services within their ecosystems.
• Trading & Liquidity: Traders use PUSD as a stable trading pair against other crypto assets, like on BTCC's PUSD/USDT spot market, to hedge volatility or gain exposure to the cultural finance sector.

How to buy PUSD Coin?

PUSD is a stablecoin available on several exchanges. For a secure and straightforward trading experience, we recommend using a major platform like BTCC, which offers high liquidity and robust customer support.

1. Register a BTCC Account: Sign up using your email or mobile number and complete the KYC verification to unlock all platform features and benefits.
2. Deposit Funds: Deposit fiat currency (via bank transfer, card, or third-party payment) or transfer USDT from an external wallet into your BTCC account. (How to buy USDT on BTCC)
3. Start Trading: Navigate to the trading section and search for the spot trading pair PUSD/USDT or the perpetual contract PUSDUSDT.
4. Place an Order: Enter the amount of PUSD you wish to purchase and submit your order. For contract trading, you can also choose to go short (sell) and adjust leverage according to your strategy.
5. Confirm Your Purchase: For spot purchases, check your asset wallet to confirm the PUSD has been credited. For futures, check your open orders or position on the trading interface.