Binance has resumed fiat money transfer services in Australia after two years, Cointelegraph reported on Sunday.
From mid-2023, Binance Australia users could deposit and withdraw funds only via credit or debit cards. Direct bank transfers are now possible. The move follows a pilot programme launched last year for a group of users, and Binance said it improved user experience and strengthened its regulatory compliance system.
Matt Poblotsky, head of Binance Australia and New Zealand, said restrictions on access to fiat money had hampered participation in Australia’s cryptocurrency market. He said the restart removed a major barrier.
In 2023, Binance Australia was abruptly cut off from Australia’s financial system. Cuscal, a payment services provider that was a partner at the time, halted support without giving specific reasons. After that, Binance users could trade directly with cryptocurrency or use only card payments.
Poblotsky said the resumption of bank transfers was the result of a phased approach reflecting user feedback. He said regulatory consistency and market expansion would be key in 2026.
Chi-gyu Hwang
delight@d-today.co.kr