Cryptocurrency giant Binance has entered the Syrian market, granting "full access" to residents who wish to use the platform after the lifting of international sanctions on the country.
Binance users in Syria will have access to its products and services, including spot and futures trading, its 300-plus tokens and stablecoins, including Bitcoin, XRP and Dogecoin, and Binance Pay, the world's largest crypto exchange by volume said on Thursday.
The move will support financial inclusion and reconnection, the company said. The entry of crypto will support remittances and businesses, being "a tool to combat inflation and connect with global customers", it said in a statement. Binance currently has more than 270 million users worldwide.
Cryptocurrency has long been touted as an alternative to traditional finance – with faster transaction times and low or no fees – and an opportunity for investment.
"For years, people in Syria have watched the crypto world evolve, unable to participate not by choice but by circumstance," Binance said on its website. "Syrian residents can now securely participate in the digital asset economy."
In compliance with applicable sanctions, platforms like Binance previously did not serve users in Syria, the company said.
"Even as crypto became a lifeline for people facing inflation or relying on cross-border remittances, access remained out of reach ... that changes today."
It is also another signal of economic progress in Syria amid the gradual lifting of sanctions on the country. Binance chief executive Richard Teng said the move is "about opening futures and horizons ... to build, invest and connect".
The Syrian economy has been devastated by a civil war that lasted for about 14 years, with the UN's Development Programme estimating cumulative losses – including physical damage and economic deprivation – at more than $923 billion at the end of 2024.
After the toppling of the Bashar Al Assad regime in December, the country has slowly begun the process of reintegrating into the global economy under its new government.
President Donald Trump's administration began taking steps to ease US sanctions on Syria after his visit to the Gulf last month. The EU also announced it would lift all economic sanctions on Syria to support its economic recovery.
That has led to new opportunities for investment. Syria has received major financial investments from the Gulf including a $7 billion energy infrastructure deal supported by Qatar's UCC Holding, a $6.5 billion aid pledge from international partners and an $800 million port agreement with the UAE's DP World.
Also in May, the World Bank cleared Syria of its $15.5 million outstanding debt after payments from Saudi Arabia and Qatar, in another positive sign for the nation's damaged economy.
Brief scores:
Manchester City 3
Bernardo Silva 16', Sterling 57', Gundogan 79'
Bournemouth 1
Wilson 44'
Man of the match: Leroy Sane (Manchester City)
Sole survivors
- Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
- George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
- Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
- Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
WORLD CUP SQUAD
Dimuth Karunaratne (Captain), Angelo Mathews, Avishka Fernando, Lahiru Thirimanne, Kusal Mendis (wk), Kusal Perera (wk), Dhananjaya de Silva, Thisara Perera, Isuru Udana, Jeffrey Vandersay, Jeevan Mendis, Milinda Siriwardana, Lasith Malinga, Suranga Lakmal, Nuwan Pradeep
Tearful appearance
Chancellor Rachel Reeves set markets on edge as she appeared visibly distraught in parliament on Wednesday.
Legislative setbacks for the government have blown a new hole in the budgetary calculations at a time when the deficit is stubbornly large and the economy is struggling to grow.
She appeared with Keir Starmer on Thursday and the pair embraced, but he had failed to give her his backing as she cried a day earlier.
A spokesman said her upset demeanour was due to a personal matter.
Moon Music
Artist: Coldplay
Label: Parlophone/Atlantic
Number of tracks: 10
Rating: 3/5
The%20specs
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Dr Amal Khalid Alias revealed a recent case of a woman with daughters, who specifically wanted a boy.
A semen analysis of the father showed abnormal sperm so the couple required IVF.
Out of 21 eggs collected, six were unused leaving 15 suitable for IVF.
A specific procedure was used, called intracytoplasmic sperm injection where a single sperm cell is inserted into the egg.
On day three of the process, 14 embryos were biopsied for gender selection.
The next day, a pre-implantation genetic report revealed four normal male embryos, three female and seven abnormal samples.
Day five of the treatment saw two male embryos transferred to the patient.
The woman recorded a positive pregnancy test two weeks later.
Killing of Qassem Suleimani
