Binance Enables Direct USD Withdrawals via SWIFT Bank Transfers
Binance now supports direct USD withdrawals via bank transfer (SWIFT), using BPay as the payment provider. Withdrawals take 0–5 business days. BPay Global, a Binance-linked entity in Bahrain, was newly established in April 2025 and holds a Central Bank of Bahrain (CBB) Payment Service Provider (PSP) license. Bahrain-based Bank of Bahrain and Kuwait (BBK) has signed an MoU with Binance Bahrain and joined Binance’s Link programme, becoming the first GCC bank in that initiative. The move expands fiat on/off-ramp options for users and leverages Binance’s licensed payment infrastructure in Bahrain.
Bullish
Enabling direct USD withdrawals via SWIFT is likely bullish for the crypto market and Binance specifically. Improved fiat on/off-ramps reduce friction for users converting crypto to USD, potentially increasing withdrawals and trading activity. The use of BPay Global with a CBB PSP license and a regional banking partner (BBK) signals stronger regulatory-aligned infrastructure, which can boost institutional and retail confidence. Historically, exchanges that expand compliant fiat rails (for example, when major platforms added regulated bank transfer options) saw volume and liquidity increases and tighter spreads. Short-term effects may include higher withdrawal flows and temporary volatility as users rebalance portfolios; medium-to-long-term effects are increased user trust, higher BTC/ETH/major-asset liquidity on Binance, and incremental competitive pressure on exchanges without comparable fiat rails. Risks remain if broader regulatory actions or bank relationships change, but on balance the announcement supports market access and liquidity.