• Binance.US has resolved recent issues with US dollar withdrawals
• The exchange warns of potential discontinuation of fiat services
• Binance.US is converting customers’ USD balances into the popular stablecoin, Tether (USDT)
Binance.US Resolves USD Withdrawal Issues
Binance.US, a cryptocurrency exchange based in the United States, has resolved their recent issues with US dollar withdrawals through cooperation with their banking partners. With this announcement, USD withdrawals are expected to be processed within the usual timeframe of less than five business days.
Potential Discontinuation of Fiat Services
The exchange also issued a cautionary statement, informing customers that the relief from withdrawal issues may be temporary. Binance.US anticipates that its banking partners will discontinue USD withdrawal services in the near future and encourages users to withdraw or convert their USD balances into stablecoins to continue trading on the platform.
Moving Towards Crypto-Only Exchange
Binance.US is moving towards becoming a crypto-only exchange and has been slowly removing crypto-fiat trading pairs from its platform. It plans to convert customers’ USD balances into the popular stablecoin, Tether (USDT), to make trading easier. The recent announcement also highlighted the addition of more USDT trading pairs, including ANKR, DAI, DASH, HBAR, ICX, IOTA, RVN, WAVES, XNO, XTZ and ZIL effective from June 26th onwards however removing most “USD Advanced Trading pairs” from the platform on the same date as well leaving only BTC ETH ADA BNB LTC MATIC SOL VET USDC and USDT tradable against the USD on Binance US for now .