Binance opens access to Syrians as sanctions ease

Cryptocurrency exchange Binance will allow Syrians to use its platform following the suspension of US sanctions on the country.

Local users can now register and engage in spot and futures trading, staking and cross-border payments, according to an announcement by the company.

In late May, the US effectively lifted longstanding sanctions on Syria introduced under the country’s former government.

Google Trends data shows searches for Binance from within Syria spiking following the announcement.

• Gulf companies compete for Syrian fibre optic project
• Syria to reopen stock market early next month
• Syria says foreign partners vital to modernise telecoms

Cryptocurrencies are popular in economies across the Middle East with unstable currencies.

Over the past decade, the Syrian pound has lost nearly 99 percent of its value against the US dollar.