Crypto-exchange Binance announced on Wednesday that users in over 70 countries can now make direct USD deposits and withdrawals in a significant expansion of the platform’s services.
To facilitate this service, Binance has partnered with BPay Global, which is a Payments Service Provider. BPay is licensed and regulated by the Central Bank of Bahrain, which will now operate as part of the Binance Group, the company said in a statement.
This infrastructure enables both retail and corporate users in eligible countries to easily fund, store and convert USD to cryptocurrency and vice versa from their fiat wallet.
Processing via SWIFT bank transfers with zero fees
Users will benefit from several convenient funding methods. USD deposits and withdrawals can be processed via SWIFT bank transfers with zero fees for deposits from Binance. Additionally, the service supports funding via credit/debit card, as well as digital wallets such as ApplePay and GooglePay.
BPay Global provides Binance users a dedicated fiat e-wallet designed to allow them to securely store their own funds with a regulated entity in global fiat currencies, including USD, and to use those balances directly within the Binance platform.
Thomas Gregory, Binance Vice President of Fiat, expressed enthusiasm for the launch. “After much anticipation, we are happy to offer our users direct on- and off-ramp for USD, the most used currency for transactions around the world, which caters to our diverse global user base and their needs,” he said.
Gregory emphasised that expanding USD services will allow the company to further lower entry barriers to crypto with low costs and improve the overall user experience within the platform, which is known for its “world-class security.”
Binance on growth track
The crypto exchange platform continues to grow rapidly. As of July 2025, Binance had over 280 million registered users worldwide, much higher than just 18 months prior, when the platform had only 190 million users.
The recent surge in both retail and institutional user adoption has played a role in this growth, along with numerous advantages Binance’s platform and product offer over competitors, Mint reported earlier.
During the first half of 2025, total registered users on Binance increased by 25 million. As new user registrations continue to average around 1 million weekly, Binance appears well-positioned to continue adding at least 50 million users annually, the Mint report said.
