OKX enters Turkey and consistently implements its international expansion plans. OKX TR offers direct deposits and withdrawals in Turkish Lira and bilingual support in English and Turkish. The exchange's expansion to the Turkish market began in May 2023.
OKX enters Turkey at the perfect time. New cryptocurrency regulations are finally coming
The OKX cryptocurrency exchange has recently had a very successful streak of obtaining licenses allowing it to operate in other countries around the world. This month, the exchange obtained such a license in Argentina, and in January it received the green light to operate in Dubai. Now OKX is entering Turkey. It is worth noting that efforts to enter the Turkish market began in May 2023, because that was when the company opened an official office in Turkey and hired a local team whose task was to introduce the exchange to the Turkish market.
OKX TR offers deposits and withdrawals in Turkish lira and access to a cryptocurrency wallet. The platform will offer Turkish users to trade USDT/TRY, BTC/TRY and ETH/TRY pairs. It is worth adding that OKX is entering Turkey at the perfect time, because new cryptocurrency regulations defining the licensing and operating standards of cryptocurrency exchanges are being finalized.
OKX CEO Hong Fang claims that:
With a cryptocurrency adoption rate close to 50%, Turkey represents a very dynamic and promising market for the digital asset industry, which continues to develop. The high level of engagement and understanding of digital assets among the Turkish population makes the country an ideal environment for OKX, and we are strongly committed to helping this ecosystem continue to grow.
Not only successes, but also OKX's first mistakes
The OKX cryptocurrency exchange has not stopped its expansion recently. However, there is information from South Korea that the company is the subject of a potential investigation by the South Korean authorities. Well, the local cryptocurrency exchange board accused OKX of promoting its Jumpstart program to South Korean investors without proper registration in the country. The information has not been confirmed by an official statement from the South Korean authorities at this time.
