OKX Expands to Turkey with Local Currency Support

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OKX, the world’s second-largest cryptocurrency exchange, has unveiled its dedicated Turkish platform, OKX TR. This landmark launch, announced on February 27, marks a significant milestone in the company’s expansion, aligning with Turkey’s evolving stance on digital currencies.

OKX TR stands out by offering direct Turkish lira (TRY) trading pairs for popular cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Tether (USDT). This initiative is backed by partnerships with prominent Turkish banks including Fibabanka, VakıfBank, Ziraat Bankası, İş Bankası, Şekerbank, and Türkiye Finans, providing a seamless fiat on-ramp for local investors.

The platform isn’t just about trading. It brings to the fore the OKX Wallet — a noncustodial Web3 wallet that opens doors to a variety of decentralized applications (DApps) and nonfungible tokens (NFTs), catering to the burgeoning interest in the Web3 space among Turkish users.

With a physical office now established in Turkey, OKX is poised to tailor its services to the local market. Mehmet Çamır, the chairman of OKX TR, highlights the importance of this local presence in understanding and meeting the community’s needs.

As Turkey warms up to the crypto industry, the forthcoming regulatory framework will set the stage for licensed operations and clear definitions within the crypto ecosystem. OKX’s timely entry into Turkey, following its Argentine and Brazilian ventures, showcases its commitment to global growth while adapting to regional markets and regulations.

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