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February 27, 2024 - Crypto exchange OKX has officially entry into the Turkish market with the inauguration of its Turkish crypto exchange OKX TR. This move equips Turkish customers with a secure and regulatory-compliant portal for cryptocurrency transactions and access to decentralised financial services. OKX's Web3 Wallet has also been made available in Türkiye via its international platform.
With the launch of OKX TR, users have access to enhanced localized features, including Turkish Lira direct deposits and withdrawals from banking partners such as: Fibabanka, VakıfBank, Ziraat Bankası, İş Bankası, Şekerbank and Türkiye Finans. The OKX TR team also offers 24/7 local customer support in Turkish and English, ensuring users receive timely assistance and comprehensive guidance when needed.
OKX TR delivers a robust trading environment for Turkish investors, facilitating the trade of key cryptocurrency pairs like USTD/TRY, BTC/TRY, and ETH/TRY, along with access to sophisticated cryptocurrency functionalities.
The OKX Wallet, a non-custodial Web3 wallet, is another feature now accessible, offering a straightforward self-custody experience for trading NFTs, engaging with dApps, and more. It stands out as the inaugural wallet integrating Multi-Party Computation (MPC) and Account Abstraction (AA) technologies, enhancing usability for a broader audience.
Previously, in May 2023, OKX disclosed plans to expand into Türkiye and has since established an office and team in the region. Following the launch, OKX TR aims to further expand and secure its share in the local market through specialised offerings.
Hong Fang, President of OKX
Hong Fang, President of OKX, remarked, "The official launch of OKX TR is a significant milestone in our global expansion strategy. With a crypto adoption rate close to 50%, Türkiye represents a very dynamic and promising market for the industry as it continues to develop. The population's high level of engagement and understanding of digital assets makes it an ideal environment for OKX, and we're strongly committed to helping continue to grow this already vibrant ecosystem."
Mehmet Çamır, Chairman of OKX TR, stated, "The launch of OKX TR is a testament to our belief in the country's huge potential for growth and our commitment to the market. Already a global leader in crypto trading, Türkiye is also in a prime position to grow in the decentralized finance space. We're excited to support this development, and firmly believe that our presence here will play a pivotal role in nurturing Türkiye's emergence as a Web3 innovation hub."
