The famous cryptocurrency exchange Binance has just added support for the Turkish Lira, which means its users can now buy Bitcoin (BTC) with the newly introduced lira through Papara, the Turkish digital wallet and a partner of Binance.
The announcement of the addition was made on November 15th, just one week before Binance’s CEO Changpeng CZ Zhao is scheduled to visit Turkey. As revealed on the Binance website, users from this country can now exchange lira for Bitcoin (BTC), XRP and Ether (ETH), via their Papara wallet.
No Support for Selling Crypto Through Papara Yet
As the official Binance website says, the Turkish Lira is going to be limited to buying cryptocurrencies. No announcement has yet been made on when Papara can be used for selling crypto. Other major crypto exchanges in Turkey, like Paribu, Koineks, and BtcTurk, are also using Papara for both withdrawals and deposits.
Turkey Eyed by Many Major Crypto Exchanges
The Binance announcement arrived a few weeks after Huobi, one of the other major crypto exchanges has talked about launching a Turkish Lira fiat gateway. More than this, Huobi has also inaugurated an office in Turkey, where it’s being said local cryptocurrency is at the highest in the world. Binance’s CEO CZ is scheduled to visit Turkey in mid-November and to speak at the Turkish Capital Markets Summit 2019. The company’s CSO Gin Chao said they have been working to bring their services to some of the new markets in Turkey for a while. As a matter of fact, Chao was the first at Binance to say that launch in Turkey can’t be avoided.