OKX officially launches in Türkiye with OKX TR

• OKX TR offers Turkish Lira fiat on-ramp capabilities as well as direct bank deposits and withdrawals.
• The exchange will list major crypto trading pairs, including BTC/TRY, USTD/TRY and ETH/TRY.
• OKX announced plans for a Turkish unit in May 2023.

OKX has announced that its crypto exchange in Türkiye, OKX TR has officially opened. The new exchange will be the gateway to the crypto ecosystem, including decentralized finance (DeFi) for Turkish users, the OKX team said in a news release.

OKX TR partners with local banks

According to the exchange’s announcement, OKX TR brings localized crypto trading and user experience to its users in Türkiye.

While getting banking partners for crypto platforms have been tricky in several jurisdictions amid regulatory restrictions, OKX says its local Turkiye unit will boast multiple banking partners. These will help it extend the Turkish Lira as a fiat on-ramp.

Per the platform, users have access to direct deposits and withdrawals with Lira at Fibabanka, VakıfBank, Ziraat Bankası, İş Bankası, Şekerbank and Türkiye Finans.

“The official launch of OKX TR is a significant milestone in our global expansion strategy. With a crypto adoption rate close to 50%, Türkiye represents a very dynamic and promising market for the industry as it continues to develop. The population’s high level of engagement and understanding of digital assets makes it an ideal environment for OKX, and we’re strongly committed to helping continue to grow this already vibrant ecosystem,” OKX president Hong Fang said.

OKX’s official launch in Türkiye follows the exchange’s expansion plans announced in May 2023.  With this unveiling, the exchange now has the opportunity to grow its presence and capture the local market share.

OKX TR will offer major crypto trading pairs, including BTC/TRY, USTD/TRY and ETH/TRY. The 24/7 customer support feature will be available in both Turkish and English.

Meanwhile, OKX TR users can access the OKX Web3 Wallet via the exchange’s global platform.