Turkey is known to be engaged in continuous, fast-paced development and adoption of cryptocurrency and its blockchain technology. Reportedly, Binance is now leading the pack at bringing more fiat on-ramps as the largest cryptocurrency exchange and Turkey’s Akbank have teamed up.
Notably, Akbank is the first-ever bank to have a direct relationship with the cryptocurrency exchange platform Binance. Also, the collaboration enables Turkish users to instantly deposit and withdraw using Turkish Lira. CEO of Binance, Changpeng Zhao or CZ has taken it to Twitter to confirm the partnership.
“As part of our mission to continue working on increasing the freedom of money worldwide and notably in a country that is fast-adopting digital assets, we are expanding the available options to lower the barrier to entry”
CZ
The Turkish government is known to have a serious effort in cryptocurrency, with confirmed plans for a Turkish central bank-backed digital currency in 2020, and the country’s largest settlements bank, Takasbank began digitizing gold and other commodities.
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