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Binance has restored direct Australian dollar deposit and withdrawal services for its Australian customers, ending an 18-month freeze that began when the exchange lost access to local banking partners in mid-2023.
The reinstatement of PayID and standard bank transfers marks a significant compliance milestone for the world’s largest crypto exchange and restores a critical feature that forced Australian traders to rely on higher-cost alternatives for nearly two years.
The reinstatement of Binance Australia Aud deposit services follows a gradual rollout that began with a limited pilot group in late 2025.
The broader release now restores AUD deposits and withdrawals for all verified users, reversing restrictions that forced customers to rely on debit cards, credit cards, peer-to-peer trading, or external payment processors since June 2023.
The original suspension occurred after the exchange lost access to key Australian banking partners, including Cuscal, amid heightened regulatory scrutiny.
During that period, card-based transactions remained available but were often accompanied by higher fees, slower settlement times, and tighter transaction limits compared with direct bank transfers.
“AUD deposits and withdrawals via PayID are now available again for eligible Australian users,” — Binance, in a platform update announcing the service restoration.
The exchange said the return of local banking rails reflects upgrades to its compliance infrastructure, including enhanced anti-money-laundering controls and operational adjustments aligned with Australian regulatory expectations overseen by AUSTRAC.
For users, the restored Binance Australia Aud deposit option reintroduces faster settlement and lower transaction costs, features that are critical for active traders managing volatility.
According to the company, the relaunch of Binance Australia Aud deposit services followed extensive engagement with regulators and payment providers to address concerns that led to the earlier suspension.
These efforts included strengthening transaction monitoring, improving customer verification processes, and aligning internal controls with domestic regulatory standards.
“User protection and regulatory compliance remain our priority as we restore essential fiat services in Australia,” — Binance spokesperson, in a statement on the compliance-led rollout.
The move reflects a broader recalibration across the crypto industry, as exchanges face increased expectations from regulators on transparency and consumer safeguards.
In Australia, uninterrupted access to local banking has become a key differentiator among platforms, particularly after several domestic competitors maintained continuous AUD rails throughout the regulatory turbulence.
The reinstated Binance Australia Aud deposit service allows Binance to re-enter that competitive field on more equal footing, offering Australian investors direct access comparable to locally regulated exchanges.
The Australian relaunch comes shortly after Binance completed a major regulatory restructuring elsewhere. On January 5, the company finalized its transition to an Abu Dhabi Global Market-regulated structure, operating through licensed entities that cover trading, clearing, custody, and brokerage services.
While Binance remains the world’s largest crypto exchange by overall trading volume, its global spot market share declined to about 25% in December 2025, the lowest level since early 2021.
Analysts attribute the drop to increased competition, shifting user preferences, and prolonged regulatory headwinds in key markets.
“Restoring local fiat access is critical for retaining users in regulated markets,” — Industry analyst, commenting on the strategic importance of regional banking rails.
For Australian customers, the return of Binance Australia Aud deposit functionality restores a core feature that had been missing since 2023 and reduces friction for capital movement.
It also signals progress in regulatory engagement at a time when compliance credibility plays an increasingly central role in user trust.
As competition intensifies and regulators tighten oversight globally, the successful relaunch of Binance Australia Aud deposit services positions the exchange to rebuild confidence among Australian crypto investors.
Whether the restored access translates into sustained user growth will depend on continued regulatory alignment and consistent service delivery in the months ahead.
