OKX, the cryptocurrency exchanges, has unveiled OKX.TR, a
localized platform tailored for Turkish traders. The new exchange offers
trading pairs denominated in Turkish Lira (TRY), catering to the burgeoning
interest in digital assets within the country.
The expansion into Turkey was initially announced by OKX in
early 2023, reflecting the exchange’s strategic vision to tap into emerging
markets. OKX.TR introduces trading pairs such as USDT/TRY, BTC/TRY, and ETH/TRY.
The move comes amidst Turkey’s economic challenges,
including soaring inflation rates, prompting many residents to seek refuge in
cryptocurrencies. Despite the uncertainties, the Turkish government has shown
relative leniency towards cryptocurrency activities, possibly recognizing its
widespread usage and the potential ramifications of alienating a sizable
portion of the population.
In an interview with CoinDesk, the President, OKX, Hong Fang emphasized
Turkey’s significance as a pivotal market for cryptocurrency adoption. Fang
stated: “Turkey is a very important and special market for us. It ranks
high in terms of crypto adoption and crypto transaction volume. There is a
natural tendency to look for value in bitcoin in Turkey, particularly for
wealth preservation.”
Major Turkish banks like Akbank and Garanti BBVA have also
ventured into the cryptocurrency space, signaling the country’s regulatory
landscape and growing acceptance of digital assets.
.@okx is opening up shop in Turkey as part of its global expansion plan. @thesamreynolds reports.https://t.co/QGDW9alfSQ
— CoinDesk (@CoinDesk) February 27, 2024
OKX.TR marks another milestone in OKX’s global footprint,
joining its existing operations in Hong Kong, the United Arab Emirates, the
Bahamas, and France. The localized exchange underscores OKX’s commitment to
facilitating accessible and secure cryptocurrency trading experiences tailored
to diverse market needs.
OKX, the cryptocurrency exchanges, has unveiled OKX.TR, a
localized platform tailored for Turkish traders. The new exchange offers
trading pairs denominated in Turkish Lira (TRY), catering to the burgeoning
interest in digital assets within the country.
The expansion into Turkey was initially announced by OKX in
early 2023, reflecting the exchange’s strategic vision to tap into emerging
markets. OKX.TR introduces trading pairs such as USDT/TRY, BTC/TRY, and ETH/TRY.
The move comes amidst Turkey’s economic challenges,
including soaring inflation rates, prompting many…
