Binance has recently launched its full suite of crypto services in Syria, seizing the opportunity created by the rollback of international sanctions. This marks a significant step for the restoration of the financial system in a post-conflict region.
Strategic Entry of Binance into Syria
After the lifting of sanctions by the United States and the European Union, Binance timed its entry into the Syrian market perfectly. The lack of a traditional banking infrastructure and high remittance costs have made the launch of crypto services relevant for the local population.
Full Service Package from Binance
As of June 12, 2025, users in Syria have access to all major Binance products, including spot trading of over 300 cryptocurrencies and P2P trading support for the Syrian Pound. Binance has also launched Earn programs to help users grow their wealth with crypto holdings.
Competition in the Syrian Cryptocurrency Market
On the same day as Binance, Bitget entered the market, offering a similar suite of services. The CEO of Bitget highlighted their mission to provide financial stability for those in need of crypto. This poses challenges for Binance, which may be pushed to innovate more rapidly and expand its offerings.
The entry of Binance and other exchanges into the Syrian market opens new opportunities for the restoration of the financial system in the country. However, it raises questions about the role of private companies in the finance of nations recovering from conflicts and economic crises.
