• The crypto exchange announced last year that it would expand to the country.
  • OKX.TR offers its Turkish customers BTC/TRY and ETH/TRY in USDT/TRY.

OKX, the crypto exchange has launched OKX.TR. This is a localized platform for Turkey with trading pairs in Turkish Lira.

“Turkey represents a special and important market for us.” In an interview with CoinDesk, OKX President Hong Fang stated that Turkey ranks highly in terms of cryptocurrency adoption and crypto transactions volume. In Turkey, there is a tendency to seek out bitcoin’s value for various reasons.

The exchange has announced plans to expand in the country by early 2023. OKX is offering USDT/TRY and BTC/TRY pairs to its local customers.

Crypto has been a lifeline to many Turks due to the country’s crippling inflation and economic problems. The Turkish government is relatively tolerant towards cryptocurrency. This may be due to the widespread use of this technology and its potential political implications of alienating millions crypto users. CoinDesk reported .

As the country prepares a crypto regulatory structure, two major Turkish banks Akbank and Garanti BBVA have started crypto initiatives.

OKX is also available in Hong Kong and the United Arab Emirates.

Parikshit Miishra is the editor.