• Thu, 05 Dec 2019, 10:37 PM
  • All times are UTC
  • Edition:
Copy link
Increase text size
Decrease text size
Link copied

Binance unveils fiat-to-crypto gateway for Turkey

Tue, 19 Nov 2019, 10:48 am UTC

Cryptocurrency exchange Binance has announced the early launch of fiat-to-crypto gateway for Turkey in collaboration with regulated payments provider Papara.

Binance CEO Changpeng Zhao unveiled the gateway and development plans for the Republic of Turkey during a keynote at the Turkish Capital Markets Summit. Through the TRY gateway, Turkish people would be able to purchase cryptocurrency with the local currency directly on Binance’s Buy and Sell Crypto platform.

“Turkey is a vibrant country that has illustrated one of the strongest demands and fast-growing interest in crypto,” he said. “Turkey has quickly adopted crypto in just the last year as the country faced economic uncertainties, which correlates with global economic markets but twice the rate from its neighboring European countries.”

In its announcement dated Nov.19, Binance said that it will be integrating Papara’s banking solution and soon allow users to soon purchase BNB, BTC, ETH and XRP with TRY.

After successfully completing KYC process, users would be able to directly deposit TRY through Papara to buy crypto instantly with their TRY balance from the exchange later this week. Binance said that additional functionalities and features, including sell functions, will be announced at a later date.

"The impressive rate of cryptocurrency and blockchain adoption in Turkey reflects the young and dynamic population of the country. We've been serving the Turkish cryptocurrency community since 2017 and we're proud to continue to do so by enabling Turkish Lira deposits and withdrawals on Binance,” Ahmed Karslı, Chairman of Papara said.

Last month, Binance launched a fiat-to-crypto gateway for Africa in partnership with Flutterwave, and, more recently, Russian ruble fiat gateway in partnership with Advcash. The exchange is partnering with a number of firms, including Simplex, Koinal, TrustToken, and Paxos, in order to provide easy access and more options throughout regions for the purchase of cryptocurrency with fiat in a fast and secure manner.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • Bitcoin (BTC) $7,458.52 (+2.83%)
  • Ethereum (ETH) $149.28 (+1.78%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $214.21 (+2.26%)
  • Litecoin (LTC) $45.24 (+0.15%)
  • Bitcoin (BTC) $7,458.52 (+2.83%)
Dec 5, 2019 (Thursday)
Dunamu’s crypto subsidiary DXM partners with Ledger to launch custody service for institutional clients
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
Crypto Technicals: LTC/USD pauses downside, bullish RSI divergence raises scope for upside
U.S. financial regulators call for continued monitoring of digital assets and DLTs
Crypto Technicals: IOT/USD retraces above 0.20 handle; recovery lacks traction
Samsung Blockchain Keystore to be soon available in six more European countries, says TRON CEO Justin Sun
KT and China Mobile team up to commercialize blockchain-based roaming charge system
Crypto Technicals: XRP/USD capped below 5-DMA, on track to test trendline support at 0.1995
France to launch CBDC trial by end of Q1 2020
Crypto Technicals: BTC/USD finds selling pressure at highs, bias remains bearish as long as 21-EMA resistance holds
OneConnect seeks to raise $500M for its upcoming IPO amidst global expansion of parent company Ping An
China’s Hainan announces new measures, $142M fund to support blockchain industry
Sean Neville to step down as Circle co-CEO
Bakkt CEO Kelly Loeffler appointed as U.S. senator by Georgia governor Brian Kemp
Gemini burns GUSD bringing total supply to 4.1 million
Crypto Technicals: ETH/USD recovery capped at 200H MA, break below 78.6% Fib (141.35) to knock prices lower
Poloniex users could lose fund, account if they fail to withdraw tokens by Dec. 16, Circle warns
North Korean hacking group may be behind near-undetectable macOS malware
Dec 4, 2019 (Wednesday)
BOJ Governor Haruhiko Kuroda sees no public demand for CBDC at the moment
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.