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Last year, the cryptocurrency announced plans to expand in the country.
OKX.TR will offer its Turkish customers USDT/TRY, BTC/TRY, and ETH/TRY.
Crypto exchange OKX has opened OKX. TR is a localized edition of the platform in Turkey, with pairs denominated in Turkish lira.
“Turkey is a very special market for us. It is among the most productive in terms of crypto adoption and crypto trading volume,” OKX President Hong Fang said in an interview with CoinDesk. “There is a natural tendency to price Bitcoin in Turkey, especially for wealth preservation. “
The exchange has announced plans to expand to the country in early 2023. OKX will offer USDT/TRY, BTC/TRY, and ETH/TRY trading pairs to its local clients.
Cryptocurrencies have become a lifeline for many others in Turkey due to the country’s economic woes and crippling double-digit inflation rate. The Turkish government has been permissive on cryptocurrencies, perhaps due to their widespread use and the potential political consequences of disposing of millions of cryptocurrencies. users, CoinDesk reported.
Two major Turkish banks, Akbank and Garanti BBVA, have launched crypto initiatives as the nation readies a crypto regulatory framework.
OKX operates in Hong Kong, the United Arab Emirates, and the Bahamas.