Binance.US, the American arm of cryptocurrency exchange Binance, plans to resume US dollar services early next year, according to the platform's acting CEO Norman Reed.

He said Binance.US is “closer than ever” to restoring USD services and plans to achieve that goal in early 2025.

"In addition to bringing back the US dollar, we are looking to solidify our reputation as the best crypto platform with low fees and high rewards,” he wrote on his social media page.

Reed said that the American crypto community can expect more announcements in the coming months.

"I firmly believe that 2025 will be a breakthrough year for Binance.US, and our teams are working hard to create a comeback story for the ages. I invite everyone to join us in taking Binance.US to the next level,” he said.

Interestingly, Reed's statement comes just days after Binance CEO Richard Teng told Bloomberg TV that it was too early to discuss whether the exchange would be able to resume operations in the US.

Binance.US launched in the US market in 2019. In June 2023, the US Securities and Exchange Commission sued Binance, accusing the company of failing to obtain permission to operate its unit. Last October, Binance.US stopped supporting dollars and declared itself a “crypto-only exchange.”