Binance Australia Halts AUD Fiat Services

Binance Australia has informed users that it has temporarily suspended Australian dollar services as its local payment services provider apparently has stopped support for the exchange, according to a tweet posted by cryptocurrency exchange Binance Australia.

On May 18, Binance Australia tweeted that AUD PayID deposits were suspended and bank transfer withdrawals would also be affected due to a decision made by a third-party payment service provider.

“We are advised by our third-party payment service provider that Bank Transfer withdrawals will also be impacted and we will update users on the timeline,” the statement concluded.

Binance says it is working to find an alternative provider to continue offering AUD deposits and withdrawals to its users. It is still possible to use a credit or debit card to buy and sell crypto.

• Australian residents will soon be able to pay for goods and services with cryptocurrency thanks to a partnership between Mastercard, Circle, and the Stablecoin platform. The collaboration aims to provide customers with an easy and familiar way to use stablecoins in the real world.

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