Binance has announced the launch of a USD bank transfer solution for corporate users in selected Asia-Pacific (APAC) and South Asia regions. This service allows these users to buy and sell cryptocurrency via SWIFT Bank Transfer. The announcement was made on their website on February 10.
Corporate users are required to complete Know Your Business (KYB) account verification to access this new feature. Initially available in selected APAC and South Asia regions, Binance plans a gradual rollout to additional markets. The company has also introduced a limited-time special pricing offer for those utilizing this feature, according to the press release.
In November 2024, Vishal Sacheendran, Binance's Head of Regional Markets, said that the company welcomes increased competition from traditional financial institutions entering the cryptocurrency space. He noted that greater participation from established banks and financial firms could help drive industry growth and broader adoption of digital assets. Sacheendran said that Binance remains committed to innovation and regulatory compliance as the crypto sector continues to evolve.
Founded in 2017 by Changpeng Zhao, Binance has grown into the largest cryptocurrency exchange by trading volume. It holds regulatory approval in 21 global markets—more than any other crypto exchange. The company operates under multiple financial licenses, including those from Brazil’s Central Bank, Dubai’s Virtual Assets Regulatory Authority, and France’s Financial Markets Authority. To strengthen compliance, Binance has invested in anti-money laundering (AML) and know-your-customer (KYC) initiatives, integrating advanced transaction monitoring systems and collaborating with blockchain analytics firms to enhance security and regulatory adherence.