Bybit Türkiye Gains Recognition as a Crypto Asset Service Provider by Turkish Regulator

Bybit Türkiye, the partner platform of global cryptocurrency exchange Bybit, has been officially listed as a crypto asset service provider by the Capital Markets Board (CMB) of Turkey.

Turkish Regulator Grants Bybit Türkiye Crypto Asset Service Provider Status

According to Bybit Türkiye’s announcement, the recognition marks a significant milestone for the exchange, allowing it to operate within the regulatory framework of the country’s crypto industry. Operating through its local entity, Narkasa Yazılım Ticaret Anonim Şirketi, Bybit Türkiye disclosed it has prioritized compliance with Turkish regulations since its rebranding in June 2024.

“We are thrilled to be included in the CMB’s list of operating exchanges,” Kutluhan Akçın, the country manager of Bybit Türkiye told Bitcoin.com News. “This recognition allows us to further solidify our commitment to the Turkish market. By adhering to local regulations, we will provide a secure and localized crypto trading experience for our users.”

The Bybit Türkiye executive added:

We aim to be a leader and pioneer in the Turkish crypto sector, offering users the unparalleled Bybit experience with the added convenience of Turkish Lira integration and exceptional customer support.

The platform aims to enhance its presence in Turkey by integrating advanced technologies, offering Turkish lira trading pairs, and providing seamless banking options through partnerships with local banks such as Ziraat Bank and Vakıfbank. Additionally, Bybit Türkiye further noted it has introduced features like the one-click buy option, further catering to both new and experienced traders in the market.

This latest development reflects Bybit Türkiye’s efforts to establish itself as a key player in the Turkish crypto market, focusing on providing a secure and efficient trading platform with 24/7 localized customer support. On Sept. 23, the Turkish lira accounted for just 0.07% of bitcoin (BTC) trading volume. However, when it came to tether (USDT) transactions, the lira dominated, making up a significant 23.26% of all pairs per cryptocompare.com metrics.

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