Bybit Türkiye, the local affiliate of the renowned global cryptocurrency exchange Bybit, has officially received recognition as a crypto asset service provider from Turkey’s Capital Markets Board (CMB).
**Turkish Regulator Approves Bybit Türkiye as a Crypto Asset Service Provider**
In a recent announcement from Bybit Türkiye, this recognition signifies a pivotal achievement for the exchange, enabling it to function within Turkey’s established regulatory framework for cryptocurrencies. Operating under the local entity, Narkasa Yazılım Ticaret Anonim Şirketi, Bybit Türkiye emphasized its commitment to adhering to Turkish regulations, particularly since its rebranding in June 2024.
“We are excited to be included in the CMB’s list of licensed exchanges,” expressed Kutluhan Akçın, the country manager for Bybit Türkiye, in an interview with Bitcoin.com News. “This acknowledgment reinforces our dedication to the Turkish market. By complying with local regulations, we aim to deliver a secure and tailored crypto trading experience for our users.”
The Bybit Türkiye executive further elaborated:
“Our goal is to establish ourselves as a leader and innovator within the Turkish crypto landscape, providing users with the exceptional Bybit experience, enhanced by the convenience of Turkish Lira integration and outstanding customer support.”
The platform intends to bolster its footprint in Turkey by incorporating cutting-edge technologies, offering trading pairs in Turkish Lira, and ensuring smooth banking options through collaborations with local financial institutions like Ziraat Bank and Vakıfbank. Additionally, Bybit Türkiye has rolled out features such as a one-click buy option, catering to both novice and seasoned traders alike.
This recent development underscores Bybit Türkiye’s ambition to position itself as a significant player in the Turkish cryptocurrency market, with a focus on delivering a secure and efficient trading platform complemented by 24/7 localized customer support. As of September 23, the Turkish Lira represented a mere 0.07% of Bitcoin (BTC) trading volume. However, in contrast, it played a dominant role in Tether (USDT) transactions, accounting for a notable 23.26% of all pairs, according to metrics from cryptocompare.com.
What are your thoughts on Bybit Türkiye’s approval in Turkey? We invite you to share your opinions and reflections on this topic in the comments section below.
