Binance Australia has resumed direct dollar deposits and withdrawals for local users, offering PayID and bank-transfer access after more than two years of banking disruptions. Australian customers can now move funds between their bank accounts and Binance in Australian dollars, with PayID access reinstated.

The return of real-time payments brings Binance closer to competitors in Australia, removing an operational hurdle that impacted user activity and market share during restricted access. Binance Australia’s General Manager emphasized the importance of traditional financial services integration for market participation, confidence, and growth in the digital asset ecosystem.

A survey commissioned by Binance Australia revealed that access to fiat on and off-ramps remains a challenge for some crypto users, with many expecting unrestricted funding of exchange accounts. Some respondents reported changing banks to facilitate purchasing digital assets more easily.

The renewed fiat rails rollout by Binance in Australia comes after a turbulent period of regulatory scrutiny, loss of local banking support, and the shutdown of its derivatives business in 2023. Details on supporting banks, payment providers, and transaction limits have not been disclosed, with the company attributing the move to internal compliance and operational efforts.

Read more at Yahoo Finance: Binance Restores Real-Time Bank Transfers for Australian Users