Binance.US, the American branch of global cryptocurrency exchange Binance, is planning to restore its US dollar (USD) services by early 2025, according to interim CEO Norman Reed. In a Dec. 18 blog post, Reed announced that the platform is “closer than ever” to achieving this milestone, signaling a major step forward in its recovery efforts.
“Alongside the return of USD, we are committed to cementing our reputation as the best crypto platform for low fees and high rewards,” Reed stated.
New Offerings and Partnerships on the Horizon
Reed highlighted the company’s focus on expanding its product suite and infrastructure through strategic partnerships. Binance.US aims to introduce enhanced custody services, new wallet solutions, and additional user benefits in the coming months.
“I strongly believe that 2025 will be a breakout year for Binance.US,” Reed said. “Our teams are hard at work building a comeback story for the ages, and I welcome everyone to join us in taking Binance.US to the next level.”
The platform continues to emphasize its low-fee structure, including 0% fee trading for Bitcoin on BTC/USDC pairs, as well as support for 160 cryptocurrencies and staking services for over 20 crypto assets.
Binance Navigating Regulatory Challenges
The announcement comes after a tumultuous period for Binance.US, which launched in 2019 to provide regulated crypto trading services to US residents. In June 2023, the US Securities and Exchange Commission (SEC) sued Binance, alleging it failed to register Binance.US as an exchange.
As a result, Binance.US suspended USD deposits and later updated its terms of service in October 2023, officially transitioning to a “crypto-only exchange.”
Despite the challenges, Reed’s optimism contrasts with recent comments from Binance CEO Richard Teng, who stated in a Dec. 9 Bloomberg TV interview that it was “too early” to discuss the exchange’s re-establishment in the US market.
Binance.US is betting on its revamped infrastructure and expanded offerings to regain user trust and solidify its position in the competitive crypto landscape. With USD services potentially returning in early 2025, the platform aims to make a significant comeback and position itself as a leader in the space.
