Binance prepares to welcome Syrian traders after U.S. lifts sanctions

Binance declared that it is prepared to open its platform to Syrian residents interested in trading cryptocurrency. The shift follows the recent suspension of U.S. sanctions on Syria.

According to a recent notice issued by the crypto exchange, Syria is no longer classified under the “prohibited country” category. This means that Syrian residents can now register themselves on the platform and access crypto-related services through the crypto exchange.

The services now available to Syrian traders include spot and futures trading, staking and earn products, Binance Pay for cross-border payments, and educational content in Arabic.

“This means we can now onboard and support Syrian residents, granting full access to products and services,” wrote the exchange in its notice.

In May 2025, President Trump announced that the U.S. would lift its sanctions on Syria following a change in leadership. The current government, led by Syria’s new president Ahmed al-Sharaa, successfully overthrew the leader Bashar al-Assad in December 2024. Al-Assad ruled over Syria from 1971 to 2024.

“I will be ordering the cessation of sanctions against Syria in order to give them a chance at greatness,” said Trump according to an Al-Jazeera report.

Due to the sanctions in place, Binance was unable to make its platform accessible to Syrian traders. The shift indicates a major opportunity for Binance to reach the untapped Syrian markets, considering Syria is ranked among the top 10 countries globally for most crypto-related search activity since 2021.

The spike in crypto interest in Syria may be due to the economic instability and high inflation in the region which led to Syrian residents relying on informal financial systems to combat the unreliable local currency.

“We’re proud to offer real solutions that support Syria’s economic recovery and help grow its digital economy, in line with international efforts and applicable regulations,” wrote the exchange.

In 1979, due to the radical al-Assad regime at the time, the U.S. and many other countries classified the country as “State Sponsor of Terrorism” in 1979, which led to a ban on arms and financial restrictions, including foreign assistance. This meant that foreign entities like crypto exchanges could not officially operate in the region or facilitate crypto-related services for its residents.

At the beginning of this year, the Syrian government declared that it plans to explore Bitcoin (BTC) legalization as well as other cryptocurrencies. The nation aimed to use crypto as a way to rebuild its post-war economy.