After an extended suspension that left Australian crypto users in a bind, Binance has officially restored direct AUD deposit and withdrawal services. This development marks a significant stride toward improving accessibility and trust within the Australian crypto market.
What Happened to Binance’s AUD Services?
In May 2023, Binance users in Australia were abruptly cut off from AUD transfers. This sudden disruption came after payment provider Zepto withdrew its support following pressure from its banking partner, Cuscal. With PayID deposits and standard BSB transfers unavailable, users had to rely on slower, costlier transaction methods, such as using debit cards or peer-to-peer channels.
However, as of January 16, 2026, Binance has reinstated AUD services for all verified users. The move follows months of testing with a limited group and is now supported by a new local partner, Bolt Financial Group. Users can now enjoy seamless funding and withdrawals via Australia’s real-time PayID system and traditional BSB bank transfers.
Why This Matters to Australian Crypto Users
Matt Poblocki, General Manager of Binance Australia and New Zealand, stressed the importance of integrating traditional financial systems with cryptocurrency platforms. He highlighted that access to these services is crucial for fostering trust, improving participation, and driving crypto adoption in Australia.
Survey data from Binance Australia reveals how critical such integration is to users. Over 22% of surveyed users admitted to switching banks in search of better crypto transaction facilities, and the restoration of banking support is expected to improve overall sentiment within the Australian crypto community.
How Binance Improved Its Compliance
Binance’s compliance challenges in Australia have been well-documented. From surrendering its Australian derivatives arm’s financial services license to facing civil penalty proceedings tied to misclassification errors, the exchange has faced significant regulatory hurdles.
To address these issues, Binance has bolstered its anti-money laundering controls and upgraded its compliance setup to align with stricter banking regulations. This revamped approach has enabled the smooth relaunch of AUD functionalities, allowing the company to compete on par with domestic crypto exchanges.
A Promotional Campaign to Welcome Back Users
To celebrate the return of AUD services, Binance has launched an exciting promotional campaign. Users can earn a 5 AUD token voucher by depositing at least 50 AUD through PayID or bank transfers. This initiative aims to encourage users to transition back to Binance and take full advantage of its improved infrastructure.
Looking Ahead: Binance’s Global and Local Footprint
The reinstatement of AUD services in Australia signals a positive shift for Binance, not just locally but globally. Recently, the company secured regulatory approval in Abu Dhabi, establishing a robust operational presence in the region. These advancements underline Binance’s commitment to leading the global crypto space while addressing compliance challenges head-on.
If you’re keen to get started with cryptocurrency trading, consider using Binance’s mobile app, which offers easy access to trading features, real-time price tracking, and secure transactions. Start your journey today by visiting the official Binance website!
