- Binance restored AUD deposits and withdrawals giving Australian users direct bank access after nearly two years of limits.
- The return of PayID payments reduces costs and friction and brings Binance closer to local crypto rivals.
- Compliance upgrades and new banking partners enabled Binance to rebuild Australian services after regulatory pressure.
Binance Australia has restored Australian dollar deposits and withdrawals for verified users, ending a service gap that lasted since mid-2023. The change allows customers to move funds directly between local bank accounts and the exchange. The update became fully available in January 2026 after months of phased testing. The return of direct banking marks a shift in Binance’s position within the Australian crypto market.
The restored access includes PayID and standard bank transfers. As a result, users can once again send and receive funds in real time. This function had remained unavailable for nearly two years. During that period, users relied on alternative payment methods with added cost and friction.
Return of Local Banking Access
The suspension began in June 2023 after Binance lost key Australian banking partners. Increased regulatory scrutiny also played a role. Payment provider Cuscal ended its relationship, cutting off core fiat channels. Consequently, Binance disabled direct AUD deposits and withdrawals.
Card-based funding remained available, yet it came with higher fees. Settlement times also proved slower. Meanwhile, peer-to-peer trading and third-party gateways filled some gaps. Still, these options lacked the simplicity of direct bank transfers.
The restored service allows users to link bank accounts using PayID identifiers. These include mobile numbers or email addresses. Therefore, transactions now process faster and with fewer steps. The rollout follows limited testing with selected users in late 2025. It now covers all verified Australian customers.
Compliance and Regulatory Adjustments
The exchange attributes the return of AUD services to expanded compliance efforts. These include tighter anti-money-laundering controls and operational changes. The adjustments aim to align with Australian regulatory expectations.
Australian banks have taken a cautious stance toward crypto services in recent years. Fraud concerns and compliance risks influenced that approach. As a result, many exchanges faced disrupted banking access. Binance’s return signals renewed cooperation between crypto platforms and financial service providers.
The revived fiat rails are supported by Bolt Financial Group. The fintech firm provides banking and payments infrastructure within Australia. This partnership underpins the exchange’s renewed local operations.
Competitive Pressure in the Australian Market
The absence of PayID access placed Binance at a disadvantage. Domestic exchanges retained uninterrupted banking services during the same period. Consequently, users faced fewer barriers on rival platforms.
The return of real-time payments narrows that gap. Binance now offers functionality similar to its local competitors. This change removes a key operational hurdle that affected user activity.
Binance is still the biggest exchange in terms of volume across the globe. It, however, reduced its spot market share to approximately 25% in December 2025. That drop was caused by competition and changing user behavior. Restoring fiat services in Australia supports efforts to stabilize engagement.
Market Context and Recent Challenges
The Australian relaunch follows broader changes within Binance’s global structure. In early January 2026, the company completed a transition to an Abu Dhabi regulated framework. The new structure covers trading, clearing, custody, and brokerage services. In December, Binance secured full FSRA authorization in Abu Dhabi and strengthened its regulated global operations.
Australia remains a significant market despite recent challenges. Regulatory scrutiny and the 2023 shutdown of the local derivatives business reduced Binance’s footprint. Civil penalty proceedings filed by ASIC in late 2024 added pressure. The regulator alleged misclassification of retail clients within the derivatives arm.
The return of direct AUD services restores a core function for Australian users. It also repositions Binance within a competitive and closely watched market.
