As part of its global expansion strategy, leading cryptocurrency exchange OKX enters the Turkish market to address the country’s surging demand for digital assets. OKX launched OKX.TR, a localized platform in Türkiye.
High demand from Türkiye fuels expansion of OKX
great Chairman Hong Fang highlighted the strong demand for cryptocurrencies in Turkey, highlighting Turkey’s notable position in terms of cryptocurrency adoption and trading volume. Fang cited the Turkish market’s propensity for Bitcoin as a means of wealth preservation, which led to OKX’s decision to establish a presence in the region.
OKX.TR: Service for Turkish cryptocurrency traders
OKX.TR provides Turkish customers with access to trading pairs denominated in Turkish Lira, including USDT/TRY, BTC/TRY, and ETH/TRY. This localized platform aims to provide Turkish traders with a seamless and convenient experience in the cryptocurrency market.
Amid economic hardship and soaring inflation, cryptocurrency has emerged as a lifeline for many people in Turkey. The Turkish government’s relatively lenient stance on cryptocurrencies reflects its recognition of their widespread use and potential impact on the country’s financial environment.
Two major Turkish banks, Akbank and Garanti BBVA, have entered the cryptocurrency space, signaling the growing acceptance and integration of digital assets within the country’s financial sector. As Turkey prepares to introduce a regulatory framework for cryptocurrencies, OKX’s market entry coincides with the evolving landscape of cryptocurrency adoption and regulation globally.