Garanti BBVA introduces crypto wallet

Friday 14 June 2024 10:52 CET | News

Garanti BBVA Digital Assets, a subsidiary of Garanti BBVA Financial Technologies, has introduced a crypto wallet service on its mobile platform in Turkey.


This initiative represents the first instance in Turkey where a bank subsidiary has independently developed and launched a cryptocurrency wallet. The service enables customers to transfer and store Bitcoin (BTC), Ethereum (ETH), and USD Coin (USDC) through the Garanti BBVA Crypto app.

According to Garanti BBVA representatives, the pilot phase of the service was successful. Initially available to a limited number of users in its beta version, the Garanti BBVA Crypto app is now accessible to all customers. The service started with BTC, ETH, and USDC and plans to expand its range of supported assets and service infrastructure in the future.

Launching a biometric card

Recently Garanti BBVA announced plans to launch the Bonus Platinum Biometric Card to enhance payment security. The card will allow users to make payments by scanning their fingerprint, which aims to provide a more secure payment method.


According to the press release, customers will be able to make payments by placing the card near the contactless area of a POS terminal after setting up their fingerprint. This process eliminates the need to enter a password, unless the user opts to do so. Interested individuals can apply for the Bonus Platinum Biometric Card through Garanti BBVA's online and mobile banking channels, the BonusFlaş app, bank branches, or the call center. The card is expected to be introduced in the near future.

Request payment feature

The company has also introduced the Request Payment feature to its mobile and online banking services. This feature allows customers to request money transfers into the accounts of their acquaintances at Garanti BBVA or other banks. Users can initiate the payment request by entering the recipient's account information, and the payment is processed via SWIFT upon acceptance, enabling seamless transfers through digital channels.

This development aligns with the Interbank Card Center's (BKM) initiatives in Turkey to streamline payments for individual and self-employed customers. Garanti BBVA officials have emphasized the simplicity and convenience of the Request Payment feature, reflecting the bank's commitment to enhancing customer convenience. To use this feature, users must enable the 'Payment Request' option in the 'Product Preference Settings' under the 'Profile and Settings' tab of Garanti BBVA Mobile.

In addition to this feature, in November 2023, Garanti BBVA announced a strategic initiative to extend remote banking services to corporate clients. This move aims to improve customer accessibility by leveraging digital offerings initially designed for retail customers. The expansion allows corporations to open bank accounts via the mobile app, eliminating the need for physical branch visits and ensuring reliable access to Garanti BBVA's remote banking services.

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Keywords: e-wallet, cryptocurrency, digital assets, digital currency
Categories: DeFi & Crypto & Web3
Companies: Garanti BBVA
Countries: Turkey
This article is part of category

DeFi & Crypto & Web3

Garanti BBVA

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