Binance Launches Crypto Services in Syria Post Sanctions Lift

Binance has recently expanded its operations into Syria, launching a comprehensive suite of cryptocurrency services just weeks after the United States and the European Union eased major sanctions on the country. This strategic move is driven by the growing demand for alternative financial tools in post-conflict regions, where traditional banking infrastructure remains weak or non-existent.

The lifting of sanctions has created a temporary legal window for international platforms to engage with Syria’s recovering financial system. Traditional remittance channels in the country are often expensive, unreliable, or inaccessible for most citizens. After years of civil war and under new transitional leadership, Syria still lacks a strong banking infrastructure, making cryptocurrency a viable alternative for financial transactions.

Binance’s entry into the Syrian market is not without controversy. The rapid entry of private tech firms raises concerns about whether cryptocurrency can be a positive force for rebuilding in sanctioned or recovering nations or if it sets a dangerous precedent where corporations, not governments, fill the power and policy void. Binance has launched its full suite of services, including spot trading with over 300 cryptocurrencies, futures trading, and a Peer-to-Peer (P2P) trading platform that supports the Syrian Pound (SYP). This allows users to buy and sell crypto directly in their local currency without going through foreign exchange or middlemen.

To lower barriers for new users, Binance is running a zero-fee promotion for all SYP P2P trades from June 16 to July 12, 2025. The company has also launched its Earn programs in Syria, allowing users to stake or lock their crypto holdings in exchange for rewards. Additionally, Binance Pay enables over 13 million Syrians living in the diaspora to send money home quickly and with lower fees than traditional remittance services. Arabic-language educational content has been introduced to build financial literacy and bring in a broader population, including those using crypto for the first time.

Binance emphasizes its commitment to compliance, applying a “robust, globally standardized compliance framework” to every country it operates in. Every Syrian user must go through identity verification before using the platform to prevent illegal activities such as money laundering, terrorism financing, or fraud. The company’s launch includes every major product live and ready for users without usage caps, feature restrictions, or waitlists, positioning itself as a key player in Syria’s financial recovery.

Binance’s move into Syria comes at a time of rapid political and economic changes. The fall of the long-standing Assad regime in December 2024 and the subsequent establishment of a transitional government led by HTS (Hay’at Tahrir al-Sham) have reshaped the country’s landscape. The lifting of sanctions by the United States and the European Union in May 2025 has opened a rare and immediate window for international businesses to re-enter the Syrian market. Digital assets and decentralized finance have become the only viable solution for cross-border transactions as inflation has eroded the value of the Syrian pound, and many citizens lack access to regulated financial services.

Syria’s high interest in cryptocurrency and its large diaspora population have created a strong demand for low-cost, fast, and trustworthy remittance solutions. Binance’s speed, scale, and global recognition have given it a first-mover advantage in a country desperate for financial stability. However, the company’s dominating presence raises governance concerns about whether the future of finance in countries like Syria should depend on the decisions of a single private platform.

Bitget, another fast-growing exchange, has also entered the Syrian market with a competitive suite of features, including spot trading, futures, copy trading, and earn programs. Bitget’s CEO, Gracy Chen, emphasized the company’s mission to serve people who “need crypto the most,” highlighting the real-world financial utility of cryptocurrency in countries dealing with inflation, instability, and limited access to banking services. While Binance’s early advantage is significant, Bitget’s presence means that Binance will need to innovate faster and maintain high standards for security and education to retain its lead.

The entry of platforms like Binance and Bitget into Syria may encourage other exchanges, such as OKX, Bybit, or Coinbase, to explore similar markets. Countries with partial sanctions, large diaspora populations, or weak banking sectors across the Middle East and North Africa may also consider crypto adoption more seriously if Syria’s crypto re-entry proves successful. The future of finance in recovering nations will depend on how these platforms navigate the complexities of compliance, security, and financial inclusion.