What is the future of Binance Australia services after debanking?

Binance users in Australia are facing limited options for buying cryptocurrencies due to the global debanking of crypto businesses. As of June 1 at 5:00 pm local time, fiat on-ramps and off-ramps by bank transfers have been halted in Australia, including trading for Australian dollar (AUD) pairs. This is due to previous developments impacting Binance in Australia, such as the closure of non-compliant accounts in February and the cancellation of the Binance Australia Derivatives license in April. Binance Australia has been seeking a payment provider to continue offering AUD deposits and withdrawals to users. In the meantime, users can still buy and sell crypto using credit or debit cards and peer-to-peer trading continues to operate as usual. AUD balances remaining in accounts have been converted to Tether (USDT). The ongoing debanking of crypto firms has prompted Binance CEO Changpeng “CZ” Zhao to consider buying a bank. Australian-based cryptocurrency exchanges have lined up to mitigate contagion fears following the recent events.