Blockchain.com has expanded with the full banking integration for Turkish Lira (TRY) to create a native payment gateway for users to deposit and withdraw Lira on the Blockchain.com Exchange.
The news means that Turkish users can now go from account creation to buying crypto in a minimal amount of time, without having to use a third-party payment processor.
Peter Smith, Co-founder and CEO of Blockchain.com commented: “Turkey is one of the countries leading the charge to embrace cryptocurrencies, but its traders have only been met with high fees and poor service.
“Blockchain.com is dedicated to providing a fair, global market for Turkey’s crypto traders, and setting a new standard for the service they should not only expect, but demand from exchanges.”
The launch capitalises on a period in which Turkey has experienced enhanced growth when it comes to cryptocurrency adoption and knowledge, in comparison to its regional peers.
On the Blockchain.com Exchange, Turkish people can now deposit, withdraw, and use TRY to buy bitcoin (BTC), Ether (ETH) and Tether (USDT) and convert their crypto into the fiat currency of their choice with competitive exchange rates.
Since launching in August, the Blockchain.com Exchange has developed a reputation as the most trusted place to buy and trade crypto, and continues to launch new features and assets. It supports deposits and withdrawals in Pounds, US Dollars, Euros, and Turkish Lira, and is available in 190 countries.
In the last two months, the Exchange has launched an API for algorithmic traders, listed popular crypto project Algorand, and exclusively listed gold-backed token DGLD, increasing its asset offering to 36 live trading pairs.
Expert Analysis: This expansion represents one that could be immensely fruitful for Blockchain.com, the Turkish market has shown an openness to exploring blockchain, so is very much the perfect demographic for Blockhain.com.