# About Bound

bUSD is a dollar-backed stablecoin issued natively by Bound on Bitcoin mainnet and adjacent protocols. Bound supports instant onchain minting and redemption using other established stablecoins, as well as fiat-USD minting and redemption. The majority of Bound reserves are held in other reputable stablecoins that are stored in secure, offline multi-signature vaults.

There are two components to Bound:

1\) bUSD token

2\) Minting/redemption platform

## **bUSD token**

bUSD is a stablecoin fully backed by other reputable stablecoins (USDC and USDT). It is issued natively on Bitcoin and Bitcoin-adjacent networks (see which networks we support [here](https://docs.bound.money/protocol/supported-networks)) and is always redeemable 1:1 for it's diverse basket of dollar-backed stablecoin reserves. 

These reserves are held transparently onchain, and smart contract vaults on non-Bitcoin networks are used for instant onchain liquidity 24/7.

## **Minting/redemption platform**

Bound provides a minting/redemption platform for users who want to easily access bUSD. Holders of supported stablecoins (USDC, USDT) on supported networks (Ethereum, Base) will be able to deposit their stablecoins on these source networks to receive bUSD on the selected destination Bitcoin network.

Inversely, bUSD holders are able to deposit their bUSD on the source Bitcoin network and receive stablecoins on a supported destination network.