One of Akbank’s wholly owned companies, Ak Investment, has formally sought to collaborate with cryptocurrency exchange Stablex.
Ak Investment holds all of the stock in the company. As the pair begins direct Turkish Lira transactions, their recent cooperation with Binance has solidified their exploration into and interest in cryptocurrencies.
Dunya claims that Ak Yatrm Menkul Deerler will acquire the majority of the shares of Stablex BiliÅŸim Teknoloji A.S.The publication indicates that the parties have been negotiating since last year.
However, they are yet to reach an agreement and obtain official approval from regulators.In August of last year, Akbank and Stablex had their first encounter.
Between 2011 and 2017, Turgut Güney, the CEO of Stablex and Assistant General Manager (COO) at Akbank, served as the bank’s COO for technology and operations.
Istanbul-based Turkish Lira cryptocurrency trading is facilitated by Stablex. Jihad Shannak founded the business in May 2020 with a 7.6 million Turkish Lira financial investment.Jihad Shannak is also the Turkish affiliate of Orion Investment, Noor Capital Market Menkul Degerler A.S., and Orion Investment Menkul Degerler A.S., all of which are based in Dubai.
The “2022 Geography of Cryptocurrency” research by blockchain and cryptocurrency analysis company Chainalysis states that Turkey supports cryptocurrencies.
Turkey is ranked 12th out of 154 nations according to the Global Crypto Adaptation Index data from Chainalysis. A cryptocurrency exchange called Bitfinex also revealed on March 17 that it would start providing services in Turkey.
It is hoped that this decision will benefit both the exchange and its users. In the following weeks, the cryptocurrency exchange might start providing its services in Turkey, allowing local customers to trade cryptocurrencies with few restrictions.
The announcement coincides with a banking crisis, particularly in the US. This week’s spike in cryptocurrencies and bitcoin (BTC) was sparked by the failure of several banking institutions, including Signature Bank and Silvergate.
