Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
Turkish digital funding financial institution BankPozitif has announced the forthcoming introduction of a custodial cryptocurrency service aimed at institutional clients. The service will support BTC, ETH, USDT, XRP, and SOL.
In collaboration with Swiss FinTech company Taurus, which specializes in digital asset infrastructure, BankPozitif will provide regulated cryptocurrency custody services to institutional clients.
To execute the initiative, BankPozitif will incorporate Taurus-PROTECT for custodial storage and Taurus-EXPLORER for digital asset management. Utilizing Taurus’ FinTech solutions will ensure a high level of security for the new service. Additionally, licenses issued by Turkey’s Capital Markets Board (CMB) to BankPozitif and its subsidiary PozitifKripto will enable the service to comply with local regulations. The launch is anticipated for June 2025.
Related Posts
According to Dr. Erkan Kork, Chair of BankPozitif, the initiative aims to address Turkey’s rapidly expanding digital asset market, where over 26 million individuals engage with cryptocurrencies. Kork also highlighted that Turkey’s banking sector has reached 30 trillion Turkish liras (~$820 billion), and the collaboration with Taurus will enable BankPozitif to cater to the increasing institutional demand for digital asset custody services.
Bashir Kazour, Managing Director at Taurus, pointed out that Turkey’s digital asset market is among the fastest-growing, and Taurus is prepared to foster FinTech innovation in the region by establishing an office in Istanbul.
From July 2023 to June 2024, cryptocurrency users in Turkey conducted transactions amounting to $137 billion. For an analysis of the factors contributing to the rising popularity of digital assets in the country, refer to CP Media’s article.
Сообщение Institutional-Grade Crypto Custody Service to Launch in Turkey появились сначала на CoinsPaid Media.
