Binance US Set to Resume USD Services After Two Years

Binance US has announced the reinstatement of USD deposits and withdrawals for eligible customers. The feature, which had been suspended for nearly two years, will gradually become available to all users in the coming days. This development allows users to deposit and withdraw funds via bank transfer (ACH), purchase cryptocurrency using USD, and trade across various USD trading pairs.

Binance US Reinstates USD Deposits and Withdrawals

According to a recent blog post, Binance.US will restore USD deposits and withdrawals for the first time since 2023. The exchange confirmed that access to fiat transactions will be rolled out in phases. Users will be able to link their bank accounts to facilitate cash transfers with no fees.

This update follows the platform’s shift to a crypto-only exchange in 2023 after regulatory actions. Binance US stated that bringing back fiat services is part of its commitment to offering a reliable trading experience. The company also emphasized that deposits and withdrawals would be available only to eligible users.

Earlier today, Binance CEO Richard Teng expressed optimism about the evolving crypto-friendly regulatory environment under President Donald Trump. In the report, Teng stated that the U.S. has moved away from restrictive policies toward an inclusive approach to crypto regulations. He acknowledged that Binance.US is considering a comeback but emphasized the need for regulatory clarity before any decisions.

Trading Pairs and New USD Features

With the return of USD services, Binance US will restore trading across multiple USD pairs. The exchange will initially support ten pairs, including BTC/USD, ETH/USD, SOL/USD, and ADA/USD. More pairs will be introduced over time.

Additional features include the ability to set up recurring buys and convert between USD and cryptocurrency instantly. Users can also stake over 20 Proof-of-Stake cryptos and place large orders through the OTC trading portal. The top crypto exchange noted that these updates aim to improve trading efficiency.

Regulatory Challenges and Market Position

Binance.US suspended fiat transactions in June 2023 after the Securities and Exchange Commission (SEC) filed a lawsuit against the platform. The case accused Binance.US of violating securities laws, which led to banking restrictions.

Since then, the exchange’s market share in the U.S. has declined significantly. It once held 10% of the fiat trading volume in the country but dropped to 0.1% as of January 2025. Despite these challenges, the crypto exchange stated that regulatory compliance remains a priority.

Following the pro-crypto Donald Trump administration, there have been positive regulatory changes in the crypto industry. Recently, a U.S. federal judge paused the SEC’s lawsuit against Binance for 60 days, allowing time for a new task force to review crypto regulations. This move comes as the SEC reassesses its regulatory approach, led by crypto-friendly Commissioner Hester Peirce.

Alongside the return of USD services, Binance US is expanding its institutional offerings. The exchange now provides access to an institutional trading portal, allowing market makers, hedge funds, and asset managers to engage in high-volume transactions.

The crypto exchange introduced new API trading options and crypto domain services. These updates will enhance functionality for both retail and institutional users.

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Ronny Mugendi

Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.