Binance US Suspends USD Deposits, Banking Partners to Pause Fiat Withdrawals

Binance US suspends USD deposits and notifies customers of potential fiat (USD) withdrawal pause.
The platform assures 1:1 reserves for all customer assets during this period.
Temporary delays in withdrawal processing may occur due to increased volumes and weekend bank closures.

Binance US, one of the leading cryptocurrency exchanges in the United States, has announced the suspension of USD deposits and provided important information regarding potential disruptions in fiat (USD) withdrawal channels. The platform is working closely with its banking partners to ensure a smooth transition during this period.

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As part of the temporary measures, Binance US will suspend USD deposits, indicating that customers will not be able to deposit USD into their accounts. The suspension of USD deposits will help facilitate the necessary adjustments and preparations for the upcoming changes.

Furthermore, Binance US has notified its customers that its banking partners are preparing to pause fiat (USD) withdrawal channels as early as June 13, 2023. This means that during the temporary pause, customers may experience delays in withdrawing USD funds from their Binance US accounts. The platform assures its users that 1:1 reserves will be maintained for all customer assets, ensuring the security of their funds.

It is important to note that any potential delays in withdrawal processing during this period may be attributed to the increased volumes and possible weekend bank closures. Binance US encourages its customers to stay informed and patient as they work diligently to minimize any inconveniences caused by the temporary suspension.

Binance US remains committed to providing a reliable and secure trading environment for its users, and these temporary measures are in place to ensure compliance and maintain the highest standards of service. The exchange appreciates the understanding and cooperation of its customers during this transitional phase.

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