Binance Launches in Syria After Trump Ends US Sanctions

One of the world’s largest cryptocurrency exchanges, Binance, has officially launched in Syria, becoming one of the first major platforms to do so following the easing of US and EU sanctions in May.

Announced Thursday, the move grants Syrian residents full access to Binance’s ecosystem, including the ability to trade over 300 tokens such as Bitcoin, XRP, Dogecoin, Shiba Inu, Toncoin, and Bitcoin Cash.

The rollout follows US Secretary of State Marco Rubio’s May 23 decision to lift sanctions on Syria, with the European Union subsequently removing its own economic restrictions.

Binance’s announcement noted:

“In compliance with applicable sanctions, platforms like Binance previously did not serve users in Syria.”

As a result, Syria has been removed from Binance’s list of prohibited countries under its terms of use.

Richard Teng, Binance CEO, also welcomed Syria in his X (formerly known as Twitter) post.

According to Binance MENA, Syrian users will have access to the exchange’s full suite of services—including spot trading, futures, peer-to-peer (P2P) transactions, and earn programmes—upon completion of Know Your Customer (KYC) verification.

Binance Pay will also be available, enabling streamlined cross-border remittances, while localised educational resources in Arabic aim to onboard users more effectively.

This launch marks a significant milestone in re-integrating Syria into the global digital finance landscape.

Trump Lifts US Sanctions in Syria Following Leadership Change

Just last month, President Donald Trump announced the lifting of US sanctions on Syria, marking a pivotal shift following a change in the country’s leadership.

The new government, headed by President Ahmed al-Sharaa, came to power after successfully toppling Bashar al-Assad in December 2024, ending a decades-long rule that began in 1971.

Trump declared:

“I will be ordering the cessation of sanctions against Syria in order to give them a chance at greatness.”

Under the former regime, Syria had been designated a “State Sponsor of Terrorism” since 1979—a label that brought sweeping international sanctions, including bans on arms sales, financial aid, and foreign business operations.

These restrictions extended to digital assets, preventing platforms like Binance from serving Syrian users.

Now, with sanctions lifted and a new administration in place, the door is opening for global crypto exchanges to tap into one of the world’s most curious crypto markets.

Despite years of financial isolation, Syria has consistently ranked among the top 10 countries globally for crypto-related search interest since 2021.

Earlier this year, the Syrian government signalled its intent to legalise Bitcoin and other cryptocurrencies as part of a broader strategy to revive its war-torn economy—potentially transforming the country into a new frontier for digital finance.

Syria’s Ongoing Conflict Drives Surge in Crypto Adoption

Binance’s entry into Syria comes at a pivotal moment, as the country continues to grapple with internal conflict following the fall of former President Bashar al-Assad in December 2024.

Years of civil war and economic instability have fueled public interest in alternative financial systems, with cryptocurrency emerging as a key tool amid rising inflation and widespread exclusion from traditional banking services.

In fact, Syria ranked among the top 10 countries globally for crypto-related search activity in 2021, according to TradingView—joining conflict-affected regions such as Libya and Palestine.

The economic backdrop underscores the urgency: the International Monetary Fund reported Syria’s population at 21.4 million in 2010, with a GDP per capita of $2,810.

By 2016, estimates suggested that as many as 13 million people of Syrian descent were living abroad.

This complex landscape positions Syria as both a test case and a potential frontier for financial inclusion through crypto.