<p>Leading global crypto exchange platform OKX has officially launched OKX TR, a specialized crypto exchange tailored to meet the needs of users in Turkey.</p><p>This unveiling, <a href="https://www.okx.com/learn/okx-officially-launches-okx-tr" rel="noopener noreferrer nofollow">announced</a> on Feb. 27, marks a significant stride in the company’s efforts to offer Turkish users greater access to cryptocurrency trading and decentralized finance (DeFi).</p><h2 id="header-0">OKX Wallet integration</h2><p>OKX TR has integrated OKX&#39;s Web3 wallet, providing Turkish users with access to a wide array of features. The wallet offers a user-friendly portal for trading non-fungible tokens (NFTs), utilizing decentralized applications (dApps). Noteworthy features of the OKX Wallet include multi-party computation (MPC) technology and account abstraction (AA), enhancing accessibility for users with varying levels of technical expertise.OKX TR introduces localized features designed to cater specifically to Turkish users, including direct deposits and withdrawals in Turkish Lira, facilitated through strategic partnerships with banking institutions such as Fibabanka, VakıfBank, Ziraat Bankası, İş Bankası, Şekerbank and Türkiye Finans. The platform offers a range of major cryptocurrency pairs for trading, including USDT/TRY, BTC/TRY and ETH/TRY.</p><p>Moreover, OKX TR prioritizes user experience by providing round-the-clock customer support in both Turkish and English, attempting to provide prompt assistance and comprehensive guidance whenever needed.</p><h2 id="header-1">Crypto adoption backdrop</h2><p>The platform’s arrival should contribute further towards the burgeoning crypto ecosystem in Turkey, a market boasting a close to 50% adoption rate for cryptocurrencies. A <a href="https://coinnesslive.page.link/Z6vEArT2Jv9pojX26" rel="noopener noreferrer nofollow">report</a> by OKX rival platform KuCoin back in August of last year found that there had been a significant increase in crypto users in Turkey over the course of the previous 18 months. It’s believed that crypto adoption in Turkey is being driven partly by its role as a financial lifeline amid economic challenges. The country’s sovereign currency, the lira, has suffered from runaway inflation in recent years.</p><p>On social media OKX Chief Marketing Officer (CMO) Haider Rafique <a href="https://x.com/Haider/status/1762398343181836771?s&#61;20" rel="noopener noreferrer nofollow">wrote</a> that the new service offers “lightning fast signup and funding,” alongside the “lowest fees in the market.”</p><p>Mehmet Çamır, Chairman of OKX TR, outlined that the company had <a href="https://www.okx.com/ru/learn/okx-to-expand-global-presence-with-tuerkiye-office" rel="noopener noreferrer nofollow">first announced</a> expansion into Turkey in May 2023. Çamır set out the company’s intentions within the Turkish market, stating:&#34;The launch of OKX TR represents more than just an expansion; it signifies our pledge to equip users with a transparent, compliant and user-friendly gateway to the world of blockchain. . . . We can unlock the vast potential of the Turkish crypto community and pave the way towards a future where finance is more inclusive and transparent.”</p><p>Turkey is in the <a href="https://coinnesslive.page.link/4R9TB5mXJD6h6ZTa9" rel="noopener noreferrer nofollow">process</a> of introducing a raft of crypto regulations, primarily with the intention of enabling it to be removed from the Financial Action Task Force’s (FATF) “grey list.” In December, Turkish President Recep Tayyip Erdogan <a href="https://coinnesslive.page.link/YXh9quMyUwgdLq4Z8" rel="noopener noreferrer nofollow">appointed</a> blockchain and cryptocurrency expert Fatma Ozkul to the Turkish central bank’s rate-setting committee.Those moves demonstrate some positive progress from the point of Erdogan’s statement in 2021 when he declared “a war on crypto.”</p>

OKX launches OKX TR in Turkey

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