Bybit Türkiye, the Turkish counterpart of the globally recognized cryptocurrency exchange Bybit, has officially received the designation of 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, Bybit Türkiye celebrated this recognition as a crucial achievement for the exchange, enabling it to function within the regulatory framework governing the country's cryptocurrency sector. Operating through its local entity, Narkasa Yazılım Ticaret Anonim Şirketi, Bybit Türkiye has emphasized its commitment to complying with Turkish regulations since its rebranding in June 2024.
"We are excited to be listed among the CMB’s operating exchanges,” stated Kutluhan Akçın, the country manager of Bybit Türkiye, in an interview with Bitcoin.com News. “This acknowledgment reinforces our dedication to the Turkish market. By conforming to local regulations, we aim to deliver a secure and tailored crypto trading experience for our users."
Akçın further elaborated:
"Our goal is to lead and innovate within the Turkish cryptocurrency landscape, providing users with the unparalleled Bybit experience, enhanced by the convenience of Turkish Lira integration and outstanding customer support."
The platform is focused on expanding its footprint in Turkey by incorporating advanced technologies, offering trading pairs in Turkish lira, and facilitating smooth banking experiences through collaborations with local banks such as Ziraat Bank and Vakıfbank. Additionally, Bybit Türkiye has introduced features like the one-click buy option to cater to both novice and seasoned traders in the market.
This recent development underscores Bybit Türkiye’s ambition to position itself as a significant player in the Turkish cryptocurrency arena, concentrating on delivering a secure and efficient trading platform backed by 24/7 localized customer support. As of September 23, the Turkish lira represented a mere 0.07% of bitcoin (BTC) trading volume. However, it played a dominant role in tether (USDT) transactions, constituting an impressive 23.26% of all pairs according to cryptocompare.com metrics.
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