Thomas Daniels
Binance Launches Crypto Trading Platform in Syria Following Sanctions Relief
Binance, the world’s leading cryptocurrency exchange by trading volume, has officially launched full operations in Syria following the recent lifting of U.S. and European Union sanctions. The rollout allows Syrian residents to access a broad range of digital assets, marking a pivotal moment for the region’s integration into the global cryptocurrency market.
The announcement, made Thursday by Binance, confirms that Syrian users can now engage in cryptocurrency trading across the platform. The exchange provides access to over 300 tokens, including flagship cryptocurrencies such as Bitcoin (BTC), currently trading at $107,371, XRP at $2.23, Toncoin at $3.15, Dogecoin (DOGE) at $0.1885, Shiba Inu (SHIB) at $0.00001267, and Bitcoin Cash (BCH) at $430.39.
The expansion follows a significant policy shift initiated by U.S. Secretary of State Marco Rubio, who announced the removal of sanctions on Syria on May 23. The European Union quickly followed suit, lifting its economic restrictions, thereby opening the door for international financial platforms to enter the Syrian market legally.
“Prior to the sanctions relief, Binance, in compliance with global regulatory frameworks, was unable to serve users in Syria,” the company stated. With Syria now officially removed from its list of restricted jurisdictions, Binance has proceeded with a comprehensive service offering in the country.
Comprehensive Trading Services After KYC Compliance
Binance MENA emphasized that all trading services—including spot trading, peer-to-peer (P2P) transactions, futures contracts, and yield-earning programs—are accessible to Syrian users who complete the exchange’s mandatory Know Your Customer (KYC) verification process.
In addition to trading services, Binance Pay is now available, enabling Syrian users to conduct seamless cross-border remittances, a critical feature for a nation with a significant expatriate population. The platform has also introduced customized educational resources in Arabic to support user adoption and enhance financial literacy.
Crypto Demand Rises Amid Syria’s Prolonged Conflict
Binance’s strategic entry into Syria coincides with the country’s ongoing economic challenges and political instability following the fall of former President Bashar al-Assad in December 2024. Years of civil unrest and hyperinflation have left a large portion of Syria’s population unbanked, driving increasing interest in decentralized financial systems.
A 2021 study by TradingView identified Syria among the top 10 countries globally for cryptocurrency-related search activity, a list that also included other conflict-ridden regions such as Libya and Palestine. The surge in digital asset interest reflects both the scarcity of reliable financial infrastructure and the growing appeal of cryptocurrency as a hedge against economic volatility.
According to the International Monetary Fund, Syria had a population of 21.4 million in 2010, with an estimated GDP per capita of $2,810. By 2016, estimates suggested that up to 13 million individuals of Syrian descent were residing abroad, further emphasizing the potential significance of crypto-powered remittance services for the diaspora.
As of publication, Binance has not issued additional commentary on the long-term strategic objectives of its Syrian market operations.
