Binance.US Now Accepts Direct BEP-20 Token Deposits and Withdraws

The change signals a move toward easier accessibility for US users.

By
Kyle Heise
on
October 5, 2021
Category:
BSC News

Landmark Move For Binance.US

United States crypto users of Binance Smart Chain (BSC) will be pleasantly surprised by a small but subtle move made by Binance.us: BEP-20 tokens are now available for direct withdraws and deposits. 

Some US users are now privy to the ability to transfer fiat currency into BUSD or BNB tokens directly through Binance.us. There is still no official announcement from Binance.us, but our team was able to confirm the update through multiple users.

“Binance.us beginning to offer BUSD and BEP-20 tokens will be great for providing US investors with easy access to Binance Smart Chain,” said BSC News Founder, CFO, and fellow American, Ben Antes. “I also can’t help but speculate that this is the first step towards more BSC integration for the exchange.”

BEP-20 token deposits work on Desktop and Mobile, but users are reporting failures on withdrawals for mobile. This story is still developing and official word from Binance.us will confirm these developments.*

The change is a small but remarkable turn of events for Binance enthusiasts in the United States looking for easier access to the largest crypto exchange in the world.

Source | Screenshot of Binance.us


An Easier Route

In the past, BEP-20 tokens were not easily accessible for users in the United States. Initially, users had to maneuver the Binance Bridge, but lately, easier transfers were made possible through features from wallets like MetaMask, TrustWallet, and the Binance Wallet. The new move eliminates any need for a Binance bridge between the entire BSC ecosystem and fiat banks.

As Mr. Antes speculates, integration with Binance.us and the BSC ecosystem could be on the way. The move could help usher in a significant windfall of liquidity to the chain. BSC is already the largest chain globally, and integration at such a scale would surely test the mettle of the system. Maybe by that time, we’ll see BNB blast past $1K? 

*Our story originally posted on October 5 at 15:00 UTC saying 'all users' could perform BEP-20 transactions to fiat. We have updated this story to report that not all users have access.

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Kyle Heise

Born and raised in the East Bay of California. He has studied and worked on three continents and lived in eight countries. Kyle resides in San Francisco. He holds bags mostly in Ethererum, Cake, and BSC GameFi projects.

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