Crypto.com expands its presence in Turkey with new products

abdelaziz Fathi

Crypto.com, a Hong Kong-based cryptocurrency exchange platform, is set to accelerate its growth in Turkey, singling out the country as a market with huge potential.

tukey

In a fresh bid for the Turkish market, the exchange rolled out its Lira (TRY) Fiat Wallet for Crypto.com App users in the country. This feature offers a localized, zero-fee, 27/7 top-up method for users in Turkey, enabling them to fund their TRY Wallet using their bank accounts. In addition, users can enjoy trading 250+ coins with TRY.

The surge in Turks’ interest in cryptocurrency — alongside the shutdown of shady exchanges that left thousands of their customers unable to access their funds — has alarmed regulated platforms like Crypto.com to expand their business into the country. Turkey has been an interesting market thanks to its strategic location in both Europe and Asia, as well as the country’s solid crypto presence.

To be part of the local crypto scene, Crypto.com has localized its Exchange app and Exchange web Gen 3.0 platforms to support Turkish customers – providing top-notch user experience in accessing and trading 200+ pairs.

“We are truly excited to launch several new product offerings in this important and ever-dynamic market. We’ll continue to build and provide the top quality and secure service to our Turkish users” said Kris Marszalek, Co-Founder and CEO of Crypto.com.

“Crypto adoption and Web3 ecosystem continues to grow in Turkey which is why we remain focused on providing our existing and new users in the market the best and most secure crypto experience” said Onur Guven, General Manager, Turkey at Crypto.com. “These latest enhancements to our products and platforms for Turkish users are just the beginning of how we plan to double down on our investment and commitment to growth in Turkey.”

Crypto.com is expanding globally, winning regulatory approval over the past few months to offer crypto services in the UK, France, Italy, Cyprus, Dubai, South Korea and Singapore.

Crypto.com, which claims 50 million users worldwide, regularly ranks in the top five global exchanges by spot volume and says its matching engine supports 2.7 million transactions per second with 50 microsecond core latency.

To boost its credibility, the exchange has successfully completed Type ll Service Organization Control (SOC 2) certification audits for security and data privacy practices. A vital industry-standard, SOC 2 compliance measures the security, availability, processing integrity, confidentiality, and privacy of customer data across solutions. The certification assures Crypto.com’s ability to not only implement critical security policies but also prove compliance over an extended period.

 

 

  • Read this next

    Retail FX

    Weekly Roundup: John Oliver rips into MetaTrader, Binance to pay $10 billion

    Welcome to this week’s roundup, where we delve into the latest developments in the Forex, Fintech, and cryptocurrency markets. Stay ahead of the curve with our comprehensive overview of the week’s most impactful events and trends across these dynamic sectors.

    Retail FX

    Lark Funding reopens to US traders, MyFundedFX picks cTrader

    Canada-based prop trading firm Lark Funding announced it will once again welcome clients from the United States.

    Institutional FX

    Cboe FX volume falls to lowest level since summer

    Cboe’s institutional spot FX platform, known as Cboe Spot, today announced its trading volume for the month ending February 2024, which took a step back after a strong rebound in December.

    Retail FX

    ThinkMarkets secures lucrative DFSA license in Dubai

    Melbourne-based broker ThinkMarkets has secured a license from the Dubai Financial Services Authority (DFSA) after it has already incorporated its new subsidiary in the Dubai International Financial Center (DIFC).

    Digital Assets

    New Horizen Lays Out Its Vision Of A Modular, Proof Verification Layer For Web3 Networks

    Horizen is forging a new path for the future of blockchain with its New Horizen initiative, which is building a modular Proof Verification layer that’s dedicated to verifying cryptographic proofs for any settlement layer, beginning with Ethereum. 

    Digital Assets

    Karma3 Labs Raises a $4.5M Seed Round Led By Galaxy and IDEO CoLab to Build OpenRank, a Decentralized Reputation Protocol

    Using OpenRank, developers and web3 companies can build consumer apps where people can discover, use, fund, read, or buy something on-chain without worrying about getting spammed or scammed.

    Digital Assets

    Worldcoin down as Elon Musk sues OpenAI CEO Sam Altman

    Worldcoin’s (WLD) token dropped following news of a lawsuit against related company OpenAI. The lawsuit was filed by Elon Musk and accused OpenAI and CEO Sam Altman of breach of contract.

    Institutional FX

    Exegy’s Liquidity Lamp adds intraday data to outperform S&P 500 by 31.8%

    Exegy has incorporated intraday signals into its AI-powered iceberg order detection tool, Liquidity Lamp. By adding intraday data to a baseline mean reversion strategy, Exegy’s model outperformed the baseline by 10.5% and the S&P 500 (SPY) by 31.8%, respectively in the out-of-sample testing.

    Industry News

    Think Elon Musk backed your crypto exchange? ASIC’s latest reveal may shock you

    In an absolutely shocking turn of events that nobody could have possibly seen coming, the Australian Securities and Investments Commission (ASIC) has bravely stepped forward to reveal that, yes, those videos of Elon Musk passionately endorsing a cryptocurrency exchange are as fake as a three-dollar bill.

    <