WhiteBIT TR, a prominent cryptocurrency exchange, has entered into a strategic partnership with Misyon Bank, a Turkish neobank, to enhance cryptocurrency access for European investors. This collaboration aims to connect individual investors across Europe with Misyon Bank via WhiteBIT TR, expanding the reach of Turkey’s crypto market.
Partnership Overview
Under the agreement, MisyonTech, the financial technology and digital asset arm of Misyon Bank, will leverage WhiteBIT TR’s liquidity in major cryptocurrencies like BTC, ETH, USDC, USDT, and AVAX. This partnership will further establish Turkey’s first bank-secured crypto asset platform, offering a more secure and regulated way to trade digital assets.
Turkey’s Growing Role in Crypto
Turkey has rapidly become a leading player in the regional cryptocurrency landscape. Insights from Kaiko indicate that over 50% of Turkey’s population has invested in crypto, a trend attributed to macroeconomic factors such as high inflation, a devaluing currency, and a young, largely unbanked population. Additionally, stablecoins like USDT have gained significant traction, with the USDT-TRY pair becoming the largest trading volume on Binance by mid-2024.
In response to these trends, Turkey’s parliament passed new crypto legislation in July 2024, which aims to strengthen anti-money laundering measures and remove the country from the FATF gray list. These moves reflect Turkey’s commitment to fostering a secure and regulated crypto environment.
Key Statements from Leaders
At the signing of the partnership, Emre Yetişkin, Chairman of WhiteBIT TR, praised Misyon Bank’s leadership in the digital asset space, calling them pioneers in Turkey. Meanwhile, Muhammet Cerit, CEO of MisyonTech, highlighted WhiteBIT TR’s deep understanding of the Turkish market and its reputation for speed and security. He further emphasized that this partnership is just the first step toward reaching European investors.
Both leaders also expressed optimism that Turkey’s new digital asset regulations will enhance the country’s role as a prominent investment hub, benefiting both domestic and international investors.
Conclusion
This partnership is part of a broader effort to capitalize on Turkey’s growing interest in crypto, and it signals a positive shift towards more regulated and accessible cryptocurrency markets in the region. With its deep market knowledge and innovative platform, WhiteBIT TR is well-positioned to serve both Turkish and European investors in the evolving landscape of digital assets.
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