Close Menu
Invest Intellect
    Facebook X (Twitter) Instagram
    Invest Intellect
    Facebook X (Twitter) Instagram Pinterest
    • Home
    • Commodities
    • Cryptocurrency
    • Fintech
    • Investments
    • Precious Metal
    • Property
    • Stock Market
    Invest Intellect
    Home»Cryptocurrency»Cryptocurrency giant Binance opens trading access to Syria: What to know
    Cryptocurrency

    Cryptocurrency giant Binance opens trading access to Syria: What to know

    June 12, 20253 Mins Read


    Syrians will now be able to trade cryptocurrencies on the Binance trading platform, following the US decision last month to lift sanctions on the war-torn country.

    “Financial freedom should be for everyone,” Binance, the world’s largest cryptocurrency exchange, said in a statement announcing the decision on Thursday. “Syrian residents can now securely participate in the digital asset economy. For years, people in Syria have watched the crypto world evolve, unable to participate, not by choice but by circumstance.”

    The company said that in compliance with sanctions, it did not serve users in Syria. Binance said that crypto has “become a lifeline” for many people facing high inflation and/or relying on cross-border remittances, and now Syrians will be able to access it. Syria has a population of 24 million and more than 8 million Syrians live abroad.

    Why it matters: Binance is the world’s largest cryptocurrency exchange, recording $4.6 trillion on spot trading in the first nine months of 2022, the latest data available, according to Reuters. More than 270 million people are estimated to use Binance globally.

    Syrian users will now have access to all of the platform’s products and services, including spot and futures trading, Binance Pay, as well as 300-plus tokens and stablecoins such as Bitcoin, Ethereum and Dogecoin.

    Binance’s announcement comes after the United States and the European Union lifted most economic sanctions on Syria last month. 

    The sanctions were removed following a change in government in December. Autocratic former President Bashar al-Assad fled to Moscow amid a lightning offensive led by Hayat Tahrir al-Sham, an offshoot of al-Qaeda’s Syrian arm. In an apparent turn of direction, Syria’s new interim President Ahmed al-Sharaa, the former leader of HTS, has vowed to respect human rights and help the country’s economy recover by reintegrating it into the global financial system.

    Syria has faced sanctions for more than five decades, but the restrictions significantly tightened in 2011, amid a civil war in the country, when the United States, the EU, Turkey and the Arab League sanctioned the Assad regime over allegations of human rights abuses.

    Know more: In an interview with the Financial Times published Monday, the governor of Syria’s Central Bank, Abdelkader Husrieh, said Syria would have access to the SWIFT payment system “within a few weeks.” Rejoining SWIFT would be a significant economic milestone for Syria, as the system accounts for nearly half of the world’s dollar-denominated transactions, and will help boost foreign trade, reduce import costs and facilitate exports.





    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    XRP price could rebound toward $3.66 record high ahead US crypto policy report

    Cryptocurrency

    Cryptocurrency worth ₹378.9 cr. stolen from Bengaluru-based firm; employee arrested

    Cryptocurrency

    Trump Administration’s Bold Move on Cryptocurrency Legislation

    Cryptocurrency

    JPMorgan customers can soon buy cryptocurrency using credit cards

    Cryptocurrency

    Pakistan Fast-Tracks Cryptocurrency Adoption: Rediff Moneynews

    Cryptocurrency

    Less Than Half The Country Approves Of President’s Handling Of Economy, Cryptocurrency

    Cryptocurrency
    Leave A Reply Cancel Reply

    Top Picks

    finalisation de l’acquisition d’une participation majoritaire dans l’opérateur Aquardens

    Commodities

    Game music wouldn’t be what it is without rock and metal—here are the legendary tracks you should add to your playlists immediately

    Cryptocurrency

    The Growing Political Potency Of The ‘Crypto Voter Bloc’

    Editors Picks

    Agriculture Education: In the Classroom, At Home and On the Farm | The Zipline

    August 28, 2024

    TMT Investments annonce les avancées de son portefeuille, incluant la cession de parts dans Bolt

    June 16, 2025

    China’s market regulator promotes agricultural standardization in Zambia to deepen Sino-African ties

    July 9, 2025

    Australian Agricultural (ASX:AAC) shareholders have earned a 6.6% CAGR over the last five years

    May 19, 2025
    What's Hot

    Huntington’s bond rating upgraded to AAA

    July 14, 2024

    Dasuki’s family denies US visa over property purchased with dubious funds

    February 24, 2025

    Four Corners Property Trust annonce l’acquisition d’un bien immobilier de Caliber Collision pour 4,2 millions de dollars

    May 23, 2025
    Our Picks

    Learning to live with market volatility – Money News

    May 9, 2025

    Dubai Investments reports 52% increase in Q1 2025 profit before tax to AED185mln

    May 9, 2025

    Latest incredible Omaze mansion worth £4.5m used to be UK’s most expensive council house

    March 21, 2025
    Weekly Top

    Trump Administration’s Bold Move on Cryptocurrency Legislation

    July 30, 2025

    Twisted Metal season 2 review: Peacock’s adaptation feels like the games

    July 30, 2025

    JPMorgan customers can soon buy cryptocurrency using credit cards

    July 30, 2025
    Editor's Pick

    Distressed Agricultural Borrowers Get $250 Million in USDA Assistance

    October 29, 2024

    Kyrgyzstan declares start date for testing program of digital currencies

    April 8, 2025

    General European Strategic Investments Inc. : Actionnaires, composition de l’Actionnariat

    February 17, 2025
    © 2025 Invest Intellect
    • Contact us
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.