OKX has officially launched its trading platform in Turkey. The new platform, OKR TR, is designed to cater to the needs of Turkish customers and is equipped with various features tailored for the domestic market.
These features include support for Turkish Lira direct deposits and withdrawals, bilingual customer support in both English and Turkish and compatibility with the OKX non-custodial wallet.
According to the exchange’s press release, the new platform will facilitate trading for key crypto pairs, such as BTC/TRY, ETH/TRY, and USDT/TRY. Local users can perform transactions directly with traditional banking partners like VakıfBank, Fibabanka, İş Bankası, Ziraat Bankası, Şekerbank, Türkiye Finans. Additionally, the platform promises 24/7 bilingual customer care support, ensuring users receive prompt assistance and comprehensive guidance as needed.
OKX has been actively expanding its global presence in the past year. The exchange had initially revealed its plans to enter the Turkish market in May 2023, subsequently establishing an office and assembling a domestic team in the country.
This move also underscores OKX exchange’s dedication to providing services to the Turkish market and positioning itself to capitalize on the nation’s evolving financial landscape. Turkey’s crypto market is anticipated to witness significant growth, with experts projecting a 10.44% increase, indicating a rising trend in the country’s crypto adoption.
Meanwhile, Turkey is battling economic woes, including rising inflation rates prompting increased interest in DeFi solutions. The nation’s government has displayed a more receptive attitude toward digital asset activities, recognizing the global significance and adoption of the financial systems.
This launch also follows closely on the heels of OKX exchange’s 16th Proof of Reserves report, which revealed that the exchange currently manages over $17.7 billion in assets and an average reserve ratio of 104%.
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