Bitfinex and Akbank announce strategic partnership Prominent cryptocurrency exchange Bitfinex has entered into a partnership agreement with Turkey’s second-largest bank, Akbank. This marks Bitfinex’s first partnership with a financial institution in Turkey and aims to expand the possibilities of working with the Turkish lira for exchange users.

As part of the agreement, Bitfinex customers will gain direct access to Akbank’s banking services. This will enable them to conduct rapid account deposits and withdrawals in Turkish lira through the bank.

Akbank is one of Turkey’s largest private banks with assets exceeding $100 billion. It boasts an extensive branch network within the country and abroad. Partnering with such a reputable financial institution significantly reinforces Bitfinex’s position within the Turkish market.

According to Jean-Louis van der Velde, CEO of Bitfinex, this strategic agreement paves the way for new opportunities for the company and its clients in Turkey. He highlighted the growing interest in cryptocurrencies within the country and Bitfinex’s determination to provide users with the most convenient financial tools for trading on the exchange.

According to recent surveys, nearly 20% of Turkish citizens already possess some form of cryptocurrency in their investment portfolios. However, challenges related to depositing and withdrawing funds in the local currency remain the main obstacles to further growth.

What will this cooperation bring?

Analysts are optimistic about the prospects of the cryptocurrency market in Turkey. The partnership between Bitfinex and Akbank is expected to contribute to the wider adoption of digital currencies and services among Turkish users. It is anticipated that other banks in Turkey will also express interest in collaborating with major cryptocurrency exchanges, following Akbank’s lead.

If you are contemplating launching a cryptocurrency-related business, turn to the team of experts at crypto legal services. We will provide you with comprehensive support to establish your enterprise, mitigating potential risks and ensuring full compliance with all legal standards and requirements.

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