Pegged BUSD refers to a cryptocurrency called Binance USD (BUSD) that is pegged or fixed to the value of a specific asset, typically the US dollar. This means that the value of BUSD is designed to stay relatively stable and maintain a 1:1 ratio with the US dollar. The purpose of pegging BUSD is to provide users with a stable and reliable digital currency that can be used for various transactions and investment purposes without the volatility often associated with other cryptocurrencies.