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Binance, Akbank to enable Turkish customers deposit fiat

Tuesday 3 March 2020 12:56 CET | News

Binance has launched a direct channel integration with Turkey-based Akbank, enabling users with a gateway that supports transfers between fiat currencies and digital assets.

Its new integration will allow users to deposit Turkish lira into their exchange accounts and instantly withdraw value back out again. Turkish citizens with an Akbank bank account can use the direct channel as of March 3, 2020, according to CoinDesk.

Founded in 1948, Akbank is one of the largest banks in Turkey. More than 12,000 employees serve 18 million customers in approximately 770 branches across the country. Turkey has proven to be fertile ground for cryptocurrencies. The lira's volatility and an uncertain political-economic outlook have pushed many of the country's citizens to engage with digital assets.

Binance has already gained a foothold in the region, placing adverts for staff in its new office in Istanbul before December 2019. In November 2019, the exchange launched its first crypto gateway with the lira.


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Keywords: Binance, cryptocurrency, crypto exchange, Turkey, lira, bank, Fiat, Akbank
Categories: Blockchain & Cryptocurrencies | Cryptocurrencies
Countries: Turkey
This article is part of category

Blockchain & Cryptocurrencies