OKX, the world's second-largest crypto exchange, announced the launch of OKX TR, a new crypto platform tailored specifically for the Turkish market.
This launch marks a milestone in OKX's broader strategy to penetrate key global markets.
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The plans to expand its global presence in Turkey were announced on May 8, 2023, before the Blockchain Economy Istanbul Summit 2023.
OKX expresses its dedication to delivering a "reliable, transparent and compliant" platform with functionalities to meet the diverse needs of crypto enthusiasts.
The platform features a fiat on-ramp for the Turkish lira in partnership with several leading local banks. These collaborations include Fibabanka, VakıfBank, Ziraat Bankası, Ä°ÅŸ Bankası, Åžekerbank, and Türkiye Finans, facilitating seamless deposits for users.
OKX TR is set to offer trading in major cryptocurrency pairs against the Turkish lira, including USDT/TRY, BTC/TRY, and ETH/TRY.
An essential component of OKX's service in Turkey is the OKX Wallet, a non-custodial Web3 wallet provided by OKX Global. This wallet allows Turkish users to engage with nonfungible tokens (NFTs) or decentralized applications (dApps).
The chairman of OKX TR, Mehmet Çamır, highlighted the company's commitment to the Turkish community by establishing a local office. He stated:
We believe that by having a local physical presence, we can stay close to our local community, with relentless focus on aligning their needs to our products, services and operations.
With its strategic partnerships and functions, OKX is poised to offer a user-centric crypto experience, further solidifying its position as a global leader in the cryptocurrency exchange market.
OKX has also announced plans to delist several privacy-focused cryptocurrencies, including Monero (XMR) and Zcash (ZEC), in early 2024.
