Binance, one of the world’s largest cryptocurrency exchanges, has officially announced that it has now started providing services to Syrian citizens.
Binance Now Offers Service in Syria: Years of Access Blockage Comes to an End
This has given millions of Syrian users, who have been excluded from the digital asset economy for years, the opportunity to join Binance’s global network of over 270 million users.
In the past, Binance was unable to provide services to users in Syria due to US sanctions. However, with the recent suspension of these sanctions, Syria is no longer listed as a “Banned Country” in Binance’s Terms of Use.
With this significant change, users in Syria will now have access to all of Binance’s products and services.
Main Services Available to Syrian Users:
- 300+ crypto assets: including BTC, XRP, DOGE, SHIB, TONCOIN and BCH
- Spot and Futures Trading
- Staking and Earn products
- Ease of transaction with stablecoins
- Fast and low-cost cross-border transfers with Binance Pay
- Arabic educational contents
- Dedicated support and secure onboarding processes for local users
Why Is It Important?
In addition to Syria’s population of about 24 million, there are between 8 million and 15 million Syrians living abroad. Many Syrians have been looking to cryptocurrencies as an outlet after years of economic crisis, high inflation and the instability of the local currency.
Under these circumstances, Syria ranked among the top 10 countries worldwide in terms of crypto search interest in 2021. However, technical and legal hurdles made it difficult to translate this interest into real use.
With Binance opening its doors, Syrian individuals and businesses can now participate in the crypto world directly and securely.
With Arabic support and localized educational content provided by Binance, users in Syria will have easier access to information and financial tools.
*This is not investment advice.
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