Making a strategic move as part of its global expansion plan, cryptocurrency exchange OKX announced the launch of OKX.TR, a localized version of its platform appealing to the Turkish market.
Crypto Exchange OKX Expands Its Operations to Turkey to Meet Increasing Demand
With Turkey showing significant interest and activity in the crypto space, OKX President Hong Fang emphasized the importance of the country and the growing demand for digital assets among Turkish users.
“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 in Turkey to seek value in Bitcoin, especially for wealth preservation,” Hong Fang said in an interview.
OKX.TR will offer Turkish Lira-denominated trading pairs including USDT/TRY, BTC/TRY and ETH/TRY, giving local customers easier access to cryptocurrency trading.
This move comes at a crucial time for Turkey, where crypto is increasingly becoming a lifeline for many due to economic woes and a double-digit inflation rate.
The fact that major Turkish banks such as OKX's Akbank and Garanti BBVA are launching crypto-related initiatives shows that digital assets are increasingly accepted and integrated in the country's financial environment.
This is in line with Turkey's preparations to create a comprehensive regulatory framework for cryptocurrencies.
*This is not investment advice.