Binance, the popular cryptocurrency exchange company, today announced the launch of a TRY gateway. The new gateway will provide users the ability to purchase cryptocurrency directly with Turkish lira (TRY).
In order to make the Turkish lira gateway possible, Binance partnered with Turkey-based Papara, a regulated and secure payments provider. Scheduled to live later this week, users will be able to purchase BNB, BTC, ETH, and XRP with TRY.
“Turkey is a vibrant country that has illustrated one of the strongest demands and fast-growing interest in crypto. Turkey has quickly adopted crypto in just the last year as the country faced economic uncertainties, which correlates with global economic markets but twice the rate from its neighboring European countries.”
– CZ (Changpeng Zhao) Binance CEO
Once all necessary KYC processes are completed, users will be able to deposit TRY through Papara and buy crypto instantly. Additional features such as sell functions will be announced in the near future.
“The impressive rate of cryptocurrency and blockchain adoption in Turkey reflects the young and dynamic population of the country. We’ve been serving the Turkish cryptocurrency community since 2017 and we’re proud to continue to do so by enabling Turkish Lira deposits and withdrawals on Binance.”
– Ahmed Karslı, Chairman of Papara