No concrete date is set, but the crypto exchange’s CEO has his eyes on the US market
Binance.US, the American division of the global cryptocurrency platform Binance, has revealed plans to bring back US dollar services in early 2025. Interim CEO Norman Reed shared this update in a blog post on December 18, signaling optimism for the platform’s recovery and future growth. Reed emphasized that Binance.US is “closer than ever” to reintroducing USD services, which were suspended earlier this year amid regulatory challenges.
The company intends to rebuild its reputation by focusing on offering low fees and high rewards, positioning itself as a top choice for cryptocurrency traders. Reed also highlighted upcoming product expansions, including new custody solutions, wallet offerings, and partnerships aimed at enhancing the platform’s infrastructure.
He expressed confidence that 2025 would mark a major turning point for Binance.US, describing it as “a comeback story for the ages.”
Binance.US has faced significant hurdles in recent years. In June 2023, the platform halted US dollar deposits after being sued by the US Securities and Exchange Commission (SEC) for failing to register as an exchange.
By October, it had transitioned to a crypto-only model and updated its terms of service to reflect the absence of USD support. The platform also reached a $4.3 million settlement with the US government in November for sanctions violations and operating without proper licensing.
Despite these challenges, Binance.US continues to support trading in over 160 cryptocurrencies and offers staking for more than 20 assets. The platform also maintains features like 0% trading fees on Bitcoin/USDC pairs, underscoring its commitment to user benefits.
While CEO Richard Teng recently stated that it’s too early to discuss a broader US return for Binance, the planned restoration of USD services could be a crucial step toward rebuilding the platform’s presence in the country.
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