United Kingdom-based cryptocurrency data and wallet service provider Blockchain.com have launched a gateway for the Turkish lira on its crypto exchange.
Blockchain.com is the latest main crypto exchange to become listed on the developing roster of crypto platforms with a direct gateway for the Turkish lira, according to a news release published on Jan. 29. Blockchain has launched complete banking integration to enable users to deposit and withdraw TRY on the exchange platform.
Crypto users from Turkey don’t need a third-party payment solution to trade crypto on Blockchain.com Exchange. The release says, “Turkish users are now able to deposit, withdraw, and use TRY purchase Bitcoin (BTC), Ether (ETH) and Tether (USDT) and convert their crypto into the fiat currency of their choice.”
Turkey embraces crypto
The lira is the fourth fiat currency supported on Blockchain.com Exchange, launched in late August. The platform also supports pounds, dollars, and euros. Blockchain.com Co-founder and CEO Peter Smith called Turkey as one of the countries leading the charge to embrace cryptocurrencies, adding that “Blockchain.com is focused on providing a fair, global market for Turkey’s crypto traders.”
Huobi is another global exchange to establish a local workplace in the country. Their fiat gateway for the lira, 1st announced at the Eurasia Blockchain Summit last September, continues to be pending. However, the Singapore-based crypto exchange has made some solid movements into the market by becoming a member of the Blockchain Turkey Platform and employing ex-Deloitte Audit exec Alphan Gogus to lead the local efforts.
While planning to monitor crypto, the Turkish govt also wants to support the adoption of blockchain in the country as reported that Turkey has plans to establish a national blockchain infrastructure. As part of the roadmap, the country aims to complete the testing of a nationwide central bank digital currency (CBDC) in 2020.