- Binance Australia has restored direct AUD bank and PayID deposits and withdrawals after a two‑year pause.
- The relaunch began with a limited rollout last year and opened to wider users as of last Friday; the announcement was shared via an official post.
- The exchange cited a new partnership with Bolt Financial Group to provide secure fiat payment rails and emphasized stronger compliance controls.
- In 2023 the platform was abruptly “cut off” from Australia’s banking system and had to suspend AUD bank transfers and trading pairs, according to regional leadership.
- Management said the relaunch was phased to gather feedback, strengthen controls, and improve the user experience; leadership added fiat will be a foundation for 2026 on the exchange’s podcast.
Binance Australia has reintroduced direct bank transfers and PayID deposits and withdrawals for local users after suspending those services in 2023. The company began a limited rollout last year and announced the broader relaunch via an official post last Friday. The move restores a common fiat on‑ramp that had been unavailable to many Australian customers.
Regional general manager Matt Poblocki said fiat rails are important for participation and confidence and highlighted a new partnership with Bolt Financial Group to provide payment infrastructure. He described fiat on and off ramps as a “vital connection between traditional finance and digital assets,” and said the rollout considered user feedback and compliance enhancements.
The exchange’s Australian operations were suddenly disconnected from local banking in 2023, with then‑regional manager Ben Rose saying the reasons were “not entirely clear.” Third‑party payments provider Cuscal declined to specify why it ended support but later pointed to efforts to limit scams and enforce onboarding and compliance standards. During the outage, users could only move fiat via debit or credit cards or by transferring cryptocurrency.
Poblocki described the reinstatement as measured and phased to ensure a smooth experience for hundreds of thousands of local users, saying, “We have been deliberate in our phased approach, garnering feedback, fortifying our compliance controls, and refining the user experience to ensure a smooth rollout to our hundreds of thousands of local users.” On the exchange’s podcast, he added that fiat will be a foundation for 2026: “preempting 2026 I think fiat is our foundation now, and from that foundation will be a lot of other things that we start bringing to the market…”
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