Blockchain.com, a UK-based cryptocurrency data and wallet provider, has expanded its exchange services by introducing a Turkish Lira (TRY) fiat gateway. This update allows Turkish users to trade cryptocurrencies directly with their local currency, streamlining transactions without third-party intermediaries.
Key Features of the New TRY Gateway
- Direct Deposits/Withdrawals: Users can now transfer TRY to buy Bitcoin (BTC), Ethereum (ETH), and Tether (USDT), and convert crypto back to fiat.
- Bank Integration: Blockchain.com has partnered with local banks to enable seamless money transfers.
- Supported Currencies: TRY joins GBP, USD, and EUR as the fourth fiat option on the platform.
👉 Explore Blockchain.com’s TRY trading pairs
Turkey’s Growing Crypto Adoption
Turkey has emerged as a leading adopter of cryptocurrency in the EMEA region. Industry leaders like Binance CEO CZ and Blockchain.com’s Peter Smith highlight the country’s enthusiasm for digital assets:
"Turkey is a vibrant market with strong demand for crypto innovation," said Smith.
CZ added, "Turkish users show rapid-growing interest in blockchain solutions."
Other global exchanges like Huobi have also entered the Turkish market, though some promised features (e.g., TRY gateways) remain pending.
Government-Backed Blockchain Initiatives
Turkey’s proactive stance includes:
- National Blockchain Infrastructure: A government-led project to deploy blockchain across public services.
- CBDC Testing: Planned trials for a digital Lira by 2025.
FAQ: Blockchain.com’s TRY Gateway
1. How do I deposit Turkish Lira on Blockchain.com?
Link your Turkish bank account via the exchange’s "Deposit" section. Transfers typically process within 1–3 business days.
2. Which cryptocurrencies support TRY trading pairs?
BTC, ETH, and USDT are currently available. More pairs may follow based on demand.
3. Are there fees for TRY transactions?
Blockchain.com charges a 1% fee for fiat deposits/withdrawals. Trading fees vary by volume.
4. Why is Turkey a hotspot for crypto adoption?
High inflation and a tech-savvy population drive demand for decentralized finance (DeFi) alternatives.
👉 Start trading with TRY on Blockchain.com
Final Notes
This update reinforces Blockchain.com’s commitment to global accessibility while aligning with Turkey’s crypto-friendly regulations. Always conduct independent research before investing.