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Crypto Regulation

Gate US Adds USD Balance Trading and USD Wire Transfers

Gate US has enabled trading with USD balances and launched USD Wire deposit and withdrawal services, letting users hold dollars in their accounts without converting to stablecoins. Verified users in eligible regions can move large sums via their own US bank accounts using a dedicated reference code, with limits above standard card or in-app transfers. The exchange holds 37 state money transmitter licenses and serves 47 states and territories, though the service is unavailable in Colorado, Hawaii, Missouri, New Jersey, Utah and Wyoming.

Original source

AI take

This matters less as a product launch than as a signal: a US-licensed exchange is letting customers hold dollars directly, reducing the role of stablecoins as the default cash leg for traders. The wire service, with limits above card or in-app transfers, targets larger-balance users who previously had to convert to stablecoins, and the state-by-state carve-outs show how fragmented the regulatory map remains. The open question is whether direct USD balances become a competitive norm among licensed US venues or stay a differentiator for Gate US in the states where it operates.

Generated by AI for reference only.

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