Binance has announced a new partnership with Akbank, one of Turkey’s largest banks. According to the announcement, the partnership between both entities is the first time a bank will be directly integrated into the exchange platform.
Binance says that all of its customers in Turkey can now use the Turkish Lira (TRY) to directly transact with digital assets right from their bank account. People who hold the Turkish Lira can now easily withdraw and deposit either using Binance via desktop or through the iOS app. It also promises that customers will enjoy “the most competitive fees in Turkey.”
Binance CEO Changpeng Zhao has said that the new feature is a way to give its customers more options on the platform. He also said that it helps to make crypto easier to access.
“As part of our mission to continue working on increasing the freedom of money worldwide and notably a country that is fast-adopting digital assets, we are expanding the available options to lower the barrier to entry. As the industry scales with our products and services that grow in tandem, the availability and process of investing, exchanging and trading crypto will become more and more seamless.”
Binance describes Akbank as “one of the most forward-thinking banks in Turkey”
Back in December, Iranian President Hassan Rouhani called for a Muslim digital asset with Turkey, and Malaysia, to “cut reliance on the U.S. dollar and whether the effects of market fluctuation.”