rewrite this content using a minimum of 1000 words and keep HTML tags
KeyTakeaways:
Binance US restores USD deposits and withdrawals, phased for eligible users.The exchange reintroduces trading with ten USD pairs, BTC/USD and ETH/USD.Binance US enhances institutional offerings with a new trading portal for large transactions.
Binance US has announced the reinstatement of USD deposits and withdrawals, allowing eligible users to deposit and withdraw funds via bank transfer. This move marks the return of fiat services, which had been suspended in February 2023 due to regulatory challenges. The services will roll out over the coming days, with users able to access features like purchasing crypto with USD and trading across various USD pairs.
Binance US confirmed that USD deposits and withdrawals would be phased back for eligible users. The exchange will allow users to link their bank accounts and make cash transfers without fees. This development comes after the platform shifted to a crypto-only model in 2023, following intense regulatory pressure.
The decision to restore USD services aligns with a broader shift in the U.S. regulatory environment, which has become more crypto-friendly under President Donald Trump’s administration.
Binance US CEO Richard Teng expressed optimism about the regulatory landscape’s changes, noting that the U.S. is transitioning from restrictive policies toward a more inclusive approach to crypto.
Expanded Features and Trading Pairs
With the return of USD services, Binance US reintroduces trading across multiple USD pairs, including BTC/USD, ETH/USD, SOL/USD, and ADA/USD. Ten pairs will initially be available, with more expected to be added. The platform also introduces recurring buys and instant conversions between USD and cryptocurrencies. Additionally, users can stake over 20 Proof-of-Stake cryptos and access an over-the-counter (OTC) trading portal for large orders.
Binance US suspended fiat transactions in 2023 after facing a lawsuit from the U.S. Securities and Exchange Commission (SEC), which accused the platform of violating securities laws. As a result, Binance US’s market share in the U.S. dropped significantly. Once holding 10% of the fiat trading volume in the country, the exchange’s share has dwindled to just 0.1% as of January 2025. Despite these challenges, Binance US remains committed to regulatory compliance and is working to regain its market position.
Alongside the return of USD services, Binance US is also enhancing its institutional offerings. The exchange has introduced a new institutional trading portal to facilitate high-volume transactions for market makers, hedge funds, and asset managers. This expansion indicates Binance’s ongoing efforts to strengthen its institutional crypto trading sector presence.
and include conclusion section that’s entertaining to read. do not include the title. Add a hyperlink to this website [http://defi-daily.com] and label it “DeFi Daily News” for more trending news articles like this
Source link
