Key Points
- Binance will now allow full cryptocurrency trading access to users in Syria following the recent lifting of U.S. sanctions.
- Syrian users can trade over 300 cryptocurrency assets and stablecoins on the platform, including those denominated in the Syrian pound.
- The U.S. lifted sanctions after Syria’s government changed in December, ending the regime of Bashar al-Assad.
- Saudi Arabia reportedly influenced the U.S. decision, supporting Syria’s reintegration into global systems.
Binance, the world’s largest cryptocurrency exchange, announced on Thursday that it will allow users in Syria to trade cryptocurrencies on its platform. This move follows a significant policy shift by the United States, which lifted long-standing economic sanctions on Syria last month.
With the lifting of the sanctions, Binance users in Syria will now have full access to the exchange’s broad suite of services. This includes the ability to trade over 300 cryptocurrency tokens and stablecoins, including major assets such as Bitcoin, Ethereum, and USDT. Binance also confirmed that the Syrian pound (SYP) can now be used to buy and sell digital assets on the platform, expanding financial accessibility for residents of the country.
The policy change comes in the wake of a dramatic shift in Syria’s political landscape. In December, an Islamist-led government took control of the country after overthrowing former President Bashar al-Assad. In a surprise move, U.S. President Donald Trump lifted economic sanctions on Syria, a decision reportedly influenced by diplomatic pressure from Saudi Arabia, a key U.S. ally and regional powerbroker.
The lifting of sanctions has opened the door for Syria’s new government to pursue economic reforms, with a particular focus on digital infrastructure and financial modernization. After enduring over 14 years of civil war and facing decades of international isolation and sanctions, the country is now aiming to rebuild its economy. Improving access to the internet and enabling participation in global financial systems are crucial to achieving this goal.
Binance’s expansion into Syria marks a notable development for both the crypto industry and the region. It also highlights how shifting geopolitical alliances and sanctions policy can directly impact financial technology access in previously isolated nations.
