Binance today rolled out direct AED transfers in the United Arab Emirates, letting users deposit and withdraw dirhams straight through the exchange. The service is live for customers who have completed identity verification under the firm’s Virtual Assets Regulatory Authority (VARA) and Abu Dhabi Global Market (ADGM) licenses. It’s the latest sign of the exchange deepening its regulated footprint in a market that’s aggressively courting crypto.
How the feature works
Users can now move dirhams into and out of their Binance accounts without going through a third-party payment processor. The company says the transfers settle in local bank accounts, though it didn’t name specific partner banks. The move cuts out a step that often added delays and fees for UAE traders.
Regulatory foundation
Binance holds a VARA license in Dubai and an ADGM license in Abu Dhabi. Both are the primary digital-asset regulators in their respective emirates. The new AED transfer service is built on those approvals, meaning the exchange is operating within the rules set by the two authorities. VARA has been particularly active in pushing exchanges toward tighter compliance and consumer-protection standards.
Why the timing
The UAE has become a hub for crypto businesses and users, but the regulatory patchwork between Dubai and Abu Dhabi can be confusing. Binance’s dual-license approach lets it serve both jurisdictions with a single on-ramp for dirhams. The rollout comes as other major exchanges are also racing to offer local-currency transfers in the Gulf, competing on speed and cost.
The service is available now. Users need to complete the exchange’s standard know-your-customer checks and link a UAE bank account. Binance hasn’t disclosed any volume targets, but the feature is live and the bank rails are open.
