Fxcrypt
According to OKX President Hong Fang, there is significant demand for cryptocurrency in Turkey. Last year, the crypto exchange unveiled its plans to enter the Turkish market. OKX.TR, a localized version of the platform, has now been launched in Turkey, offering trading pairs denominated in Turkish Lira.
In an interview with CoinDesk, Hong Fang emphasized Turkey’s importance as a market with high crypto adoption and transaction volume. She noted that there is a strong inclination among Turks to seek value in Bitcoin, especially for wealth preservation purposes.
OKX’s expansion into Turkey was announced in early 2023, with the platform providing USDT/TRY, BTC/TRY, and ETH/TRY trading pairs for local customers.
Cryptocurrency has become essential for many individuals in Turkey due to the country’s economic challenges and high inflation rate. Despite these difficulties, the Turkish government has shown relative openness towards cryptocurrency, likely influenced by its widespread usage and the potential political implications of alienating millions of crypto users.
Notably, two major Turkish banks, Akbank and Garanti BBVA, have initiated crypto projects as the country prepares to establish a regulatory framework for cryptocurrency.
Apart from Turkey, OKX also operates in various other regions, including Hong Kong, the United Arab Emirates, the Bahamas, and France.
Fidelity_Nasir
