The cryptocurrency exchange OKX has introduced a tailored interface with trading pairs valued in Turkish Lira in Turkey.
Turkey is important for cryptocurrency, according to OKX President Hong Fang, who noted the country’s high adoption and transaction volumes. Fang said in an interview:
“Turkey is a very important and special market for us. It ranks high in terms of crypto adoption and crypto transaction volume”,
Three days after filing its application, HTX withdraws its Hong Kong crypto license. Due to the nation’s economic difficulties, which include double-digit inflation, cryptocurrency has become an essential source of funding for a large number of Turks.
The Turkish government has adopted a lax attitude toward cryptocurrencies out of concern about upsetting a lot of people, which has helped the industry flourish.
Early in 2023, OKX revealed its plans to expand into Turkey, offering local clients trading pairings for USDT/TRY, BTC/TRY, and ETH/TRY. Acbank and Garanti BBVA, two central Turkish banks, have also started cryptocurrency initiatives in line with the country’s efforts to create a regulated framework for cryptocurrencies.
Beyond Turkey, OKX operates in the Bahamas, Hong Kong, and the United Arab Emirates.
