Binance.US is mounting an American comeback and vows to woo back customers

The company is restoring its American dollar–backed fiat services after nearly two years. Binance.US customers can now deposit and withdraw USD from the platform with zero fees, allowing them to buy, sell, convert, and trade over 160 cryptocurrencies, ranging from Bitcoin to President Donald Trump’s memecoin, $TRUMP. 

The change comes as new leadership at the Securities and Exchange Commission moves to pause an ongoing lawsuit against Binance, a separate company. The suit filed in 2023, which alleged that the company had inflated trading volumes and misled investors, shattered institutional confidence in the platform and made it difficult to find banking partners willing to facilitate fiat services for the company in the U.S. 

That chilling effect forced Binance.US to become a “crypto-only” platform and sent revenue plunging 75%, according to court filings released in March. Then-CEO of Binance Changpeng Zhao called it a “near mortal blow.” 

Now, as the Trump administration takes a supportive regulatory stance on the industry, Binance.US is ready to reintroduce its fiat services with a new banking partner, and says it will roll out support for additional partners in the coming months, COO Christopher Blodgett tells Fortune. “The election unequivocally supercharged everything, and we went from one yes to, now we have a backlog of partners,” he said. Blodgett declined to disclose the names of those partners.

While some customers may have left for the platform for exchanges like Coinbase or Kraken, Blodgett believes many will return. 

Blodgett adds that by offering competitive pricing and consistently listing new cryptocurrencies, he believes Binance.US will be able to win over new customers and compete with the largest American crypto exchanges.

“We have pricing that people appreciate. Fiat was the missing piece,” he said. “So, we scratch that itch and I think we’re back in business quickly.”