Binance.US, a major crypto exchange, announced significant updates for its U.S. dollar withdrawal issue. The platform has collaborated with its banking partners to successfully tackle nearly all delayed USD withdrawal requests.
The company encourages those users whose previous withdrawal attempts were unsuccessful to resubmit their requests with the assurance that the platform’s systems remain fully functional.
On June 9th, Binance.US temporarily suspended USD deposits and withdrawals. However, they are actively working to resolve the issue and expect most USD withdrawal requests to be processed within five business days or less.
Along with ensuring swift USD withdrawals, Binance.US is also transitioning into a crypto-only exchange and has shared important changes to prepare its users for this shift.
The company forecasts that its banking partners will soon discontinue the USD withdrawal service.
As Binance.US continues to seek new partners to re-establish USD deposits and withdrawals, it suggests users use, withdraw, or convert their USD fiat balances into stablecoins for uninterrupted crypto-to-crypto trading on the platform. Any residual USD balance in user accounts may be converted into USDT in the future.
In a bid to enhance the user trading experience, Binance.US will expand its Advanced Trading pairs on June 26, 2023, to include USDT pairs for the following digital assets: ANKR, DAI, DASH, HBAR, ICX, IOTA, RVN, WAVES, XNO, XTZ, and ZIL.
The platform also shared that it will remove most USD Advanced Trading pairs from the platform on the same day.
Following this change, USD Advanced Trading pairs will only be available for the following digital assets: BTC, ETH, ADA, BNB, LTC, MATIC, SOL, VET, USDC, and USDT.
Binance.US has advised users to thoroughly review their trades and either execute or cancel any open orders on impacted USD Advanced Trading pairs before their removal.
Throughout these updates, Binance.US reassures its users that their assets remain safe and secure on the platform. The exchange is committed to supporting trading for over 150 cryptocurrencies across a wide variety of Advanced Trading pairs.
These changes mark an exciting evolution for Binance.US as it continues to adapt and innovate in the fast-paced world of cryptocurrency trading.
