Crypto Adoption: Binance Teams Up With Leading Bank In Turkey To Serve 18 Million Customers

Binance was recently in the spotlight when the exchange made a move that boosts adoption.

Binance launched Binance Cloud – a new product that will allow partners to build exchanges for their very own markets while delivering Binance’s “technology, security, and liquidity.”

Binance Cloud features the exchange’s matching engine, trading risk management protocols, and security measures.

The mainstream adoption of digital assets has been an essential goal in the crypto space back in 2019, and it remains the same this year as well.

There have been a lot of moves made in this direction in the crypto space, and they continue. This time, Binance is the main catalyst for the increased adoption of crypto once again.

Binance teamed up with Akbank

Binance teamed up with Akbank, which is the fourth-largest bank in Turkey by assets under management.

The collaboration enables users to instantly deposit and withdraw Turkish Lira (TRY) on Binance through its iOS app and desktop while enjoying the most competitive fees in Turkey.

Binance’s partnership with Akbank comes after a 2019 poll that revealed that Turkey is one of the largest crypto markets in the world.

The Statista Global Consumer Survey showed that 20% of respondents polled in the country claimed that they currently own or had ever used digital assets, according to the online publication the Daily Hodl.

Binance’s latest move is highlighting the company’s aim to increase the number of fiat on-ramps. Besides the Turkish Lira, the crypto exchange also offers support for the Thai bhat, Argentine peso, and British pound.

Binance CEO Changpeng Zhao says that the exchange continues lowering the barrier to entry by expanding available options.

Zhao continued and explained that “As the industry scales with our products and services that grow in tandem, the availability and process of investing, exchanging and trading crypto will become more and more seamless.”

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I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.
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