Crypto exchange OKX is expanding its reach, venturing into the Turkish market with the launch of OKX.TR. With a growing demand for cryptocurrency in Turkey, OKX aims to capture the local market share by offering tailored products and services. The platform will provide trading pairs denominated in Turkish Lira, including USDT/TRY, BTC/TRY, and ETH/TRY.
Turkey’s Crypto Goal Amid Financial Turmoil
In an interview with Coindesk, OKX President Hong Fang emphasizes the significance of Turkey in the crypto landscape, noting its high adoption rate and transaction volume. The move aligns with OKX’s global expansion strategy, tapping into Turkey’s potential for growth and innovation in the decentralized finance sector.
According to OKX TR Board Chairman Mehmet Çamır, the platform is committed to Turkey’s development and aims to help the country become a Web3 innovation powerhouse. Turkey’s government is generally lenient towards cryptocurrencies, which have become a lifeline for many amidst economic hardship and inflation.
Crypto Impact
As Turkey’s crypto industry is growing fast, big banks like Akbank and Garanti BBVA have started their crypto projects while the government works on a set of rules. With its new activities in Turkey, OKX now has locations worldwide, including Hong Kong, the UAE, the Bahamas, and France.
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