The Turkish Digital BankPozitif is set to launch cryptocurrency services in collaboration with the Swiss Crypto platform Taurus, making it the latest Turkey financial institution to embrace digital assets.
On March 4, the Bankpozitif announced a strategic partnership with Taurus, which enabled institutional clients to store crypto assets in the bank.
The service is expected to be released by June and will initially feature support for the top five crypto assets through the Market Cap, including Bitcoin (Btc), Ether (Btc), Tether USDT (USDT), XRP (XRP) and Solana (Sol), a spokesman for the bankpozitif to cointelegraph said.
“Crypto is a very staple of hype. We believe that other players will be active in the Turkish market. Our young populations, high financial literacy and a digital compatible demographic user provides the basis for it,” the speaker said.
BankPozitif received a temporary crypto nod from CMB
According to BankPozitif Chairman Erkan Kork, the digital bank has received a crypto guard license from the Capital Markets Board of Turkey (CMB).
“Our local crypto subsidiary, Pozitifkripto, also received a service provider license,” the executive Says In a LinkedIn post in late February.
Bankpozitif Chairman Erkan Kork’s CMB License announcement in February. 28. Source: LinkedIn
“We have completed the required temporary permit permit from the institutional capital market where we are affiliated. From now on, we will enter the process of setting up the process inside the bank with business policies,” Kork told Cointelegraph.
Related: Taurus has launched solana-based precautions and tokenization platforms for banks
According to In CMB’s public data, the BankPozitif is among the 88 companies that announced that they will operate in accordance with the temporary Article 11 of Capital Markets Law No. 6362.
“In this context, having a ‘Operating’ list ‘does not mean that the organizations included in this list are authorized in accordance with the law,” the authorities said.
Taurus cooperates with other Turkish banks
Apart from the Bankpozitif, Taurus is working on three other Turkish banks, including the Mission Bank – which announced its crypto debut March 2024-Taurus co-founder Lamine Brahimi told Cointelegraph.
Erkan Kork of Bankpozitif (left) and Taurus’ Lamine Brahimi. Source: LinkedIn
“As demand for safe, following digital asset solutions, we focus on supporting the Türkiye financial sector with institutional-supported infrastructure-supported by our local presence in Istanbul,” Brahimi said.
Other crypto-friendly banks in Turkey are included GARANTI BBVA AND AKBANK.
As previously mentioned, Turkey has introduced new crypto regulations In the last week of 2024, the targeting of tighter anti-pera laundering steps and client identification policies.
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