OKX Launches Crypto Exchange in Turkey as Part of Global Expansion
OKX has officially launched a cryptocurrency exchange in Turkey, marking its latest move in its international expansion plans. The exchange, OKX TR, offers Turkish Lira direct deposits and withdrawals, as well as bilingual support in Turkish and English. Turkish customers can also access OKK’s web3 non-custodial wallet through the global platform. This expansion into Turkey follows OKX’s announcement in May 2023 and subsequent establishment of an office and local team in the Middle Eastern market.
OKX TR provides users with a platform to trade major cryptocurrency pairs, including USDT/TRY, BTC/TRY, and ETH/TRY.
Argentina Launch and Potential South Korea Probe
In addition to the launch of its crypto exchange services and web3 wallet in Turkey, OKX recently expanded into Argentina. The company sees Argentina as a crucial launch pad for its regional growth strategy in Latin America.
Furthermore, OKX obtained a VASP license in Dubai to operate crypto exchange services earlier this year.
However, it is worth noting that OKX is facing potential scrutiny from South Korean authorities. A local council of crypto exchanges has alleged that OKX promoted its Jumpstart program to South Korean investors without proper registration in the country.
Hot Take: OKX Continues to Expand Globally
OKX’s launch of a crypto exchange in Turkey is another step forward in its global expansion efforts. By offering Turkish Lira direct deposits and withdrawals, bilingual support, and access to their non-custodial wallet, OKX aims to tap into the dynamic and promising Turkish market for digital assets. With a high level of crypto adoption and engagement among the population, Turkey presents an ideal environment for OKX to grow and contribute to the vibrant ecosystem.
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