- OKX has broadened its reach and entered the Turkish market.
- OKX.TR offers its Turkish customers USDT/TRY, BTC/TRY, and ETH/TRY.
OKX, a global cryptocurrency spot and derivatives exchange, has launched OKX.TR, a localized version of its crypto exchange platform in Turkey
OKX.TR now offers expanded localized features, such as Turkish Lira direct deposits and withdrawals from banking partners Fibabanka, VakıfBank, Ziraat Bankası, İş Bankası, Şekerbank, and Türkiye Finans. The OKX TR team also provides 24-hour local customer support in Turkish and English, ensuring that consumers receive prompt assistance and detailed instruction when required.
The exchange stated ambitions to expand into the country in early 2023. OKX will provide local users with trading pairs in USDT/TRY, BTC/TRY, and ETH/TRY.
OKX President Hong Fang commented on the development:
The official launch of OKX TR is a significant milestone in our global expansion strategy. With a crypto adoption rate close to 50%, Türkiye represents a very dynamic and promising market for the industry as it continues to develop. The population’s high level of engagement and understanding of digital assets makes it an ideal environment for OKX, and we’re strongly committed to helping continue to grow this already vibrant ecosystem.
Hong Fang, OKX President
Digital assets have become a lifeline for many in Turkey because of the country’s economic woes and severe double-digit inflation rate.
The Turkish government has been relatively permissive towards cryptocurrency, possibly due to its widespread use and the potential political consequences of alienating millions of crypto users.
Two major Turkish banks, Akbank and Garanti BBVA, have launched crypto initiatives as the nation readies a crypto regulatory framework.
