Binance.US, the US arm of popular crypto exchange Binance, has announced plans to reinstate USD services in early 2025. This news was confirmed by interim CEO Norman Reed, who said Binance.US is “closer than ever” to achieving this goal.
Binance.US plans to restore its services in 2025
Since its inception in 2019, Binance.US has offered regulated crypto trading services to residents of the United States. However, in June 2023, the Securities and Exchange Commission (SEC) filed a lawsuit against Binance, accusing the company of failing to register Binance.US as an exchange. This action led to the suspension of USD deposits on the platform.
So recently, Norman Reed expressed an optimistic vision for the future of Binance.US, saying that 2025 will be a breakthrough year for the crypto platform. He noted that the company is working on new partnerships and improvements to the exchange's infrastructure, including expanded custody offerings and new wallet solutions.
Reed also mentioned that Binance.US remains committed to strengthening its reputation as the best crypto platform for low fees and high rewards. Especially since in November 2024, Binance recorded a record inflow of $8.73 billion in assets, bringing the total value of its holdings to $154.9 billion. This performance underlines the solidity of the platform and the trust of users, despite an increasingly regulated global environment.
Impact on the crypto market
Restoration of USD services could have a significant impact on the crypto market in the United States. By restoring these services, Binance.US could attract new users and build investor confidence, which could boost the growth of the platform and the cryptocurrency market in general.
In sum, the return of USD services to Binance.US marks an important milestone for the platform and could play a key role in its future expansion and ability to offer high-quality crypto trading services to US users.
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