Garanti BBVA Launches Crypto Trading Services: Turkey Ranks Third in Global Adoption

Garanti BBVA Launches Crypto Trading Services with Bit2me Partnership

Garanti BBVA, the fifth-largest bank in Turkey, is to introduce its cryptocurrency trading services for individual consumers through its cryptocurrency custody platform, Garanti BBVA Kripto. As the trade execution center for the Spanish banking behemoth Banco Bilbao Vizcaya Argentaria (BBVA), Garanti BBVA will collaborate with Bit2me, a cryptocurrency exchange established in Spain.

Turkey is the third-largest cryptocurrency adoption market in the world, according to Triple-A statistics, highlighting the rising demand for digital assets. Traditional financial institutions are thought to be able to enter the digital asset market with confidence due to the robust legal framework for cryptocurrencies provided by the European Union’s markets in crypto-assets legislation (MiCA), which is slated to go into effect on December 30, 2024.

Banks worldwide will play a key role in normalizing access to bitcoinand cryptocurrencies. Financial institutions ensure bitcoin’s growth becomes unstoppable, proving that technology knows no borders.

Abel Peña, CSO at Bit2me

BBVA Brings Regulated Crypto Access to Turkish Consumers

Financial institutions like BBVA can now get approval from domestic regulators and provide their European clients with exposure to Bitcoin, Ethereum, and other cryptocurrencies due to the MiCA crypto framework. MiCA supporters maintain that it will give millions of European retail cryptocurrency users access to a secure, regulated, and user-friendly digital asset management platform. The debut of BBVA’s crypto service in Turkey comes after other steps taken by European banks to increase their visibility in the market.

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