WhiteBIT TR, established by Europe’s largest cryptocurrency exchange, has cracked a new partnership with a bank, that can help expand its reach going forward.
To be precise, the crypto exchange made a strategic partnership with Misyon Bank, a platform that aims to provide a secure transaction experience in the crypto world with its innovative solutions and reliable infrastructure.
Thanks to this latest collaboration, Misyon Bank will be able to connect with individual investors across Europe through WhiteBIT TR— its third major initiative of the latter in the digital assets space, following two global partnerships.
Details about this partnership
The agreement terms between MisyonTech, the financial technology and digital asset subsidiary of Misyon Bank, and WhiteBIT TR revealed that the latter will provide liquidity for major cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), USDC, USDT, and Avalanche (AVAX), on Turkey’s first bank-secured crypto asset platform, which also features advanced tokenization capabilities.
The Capital Markets Board’s Crypto Asset Service Providers List lists Misyon Bank as the first Turkish institution authorized to provide both custody and platform services in the cryptocurrency space. This was highlighted by Emre Yetişkin, Chairman of the Board of WhiteBIT TR, during the signing ceremony.
Yetişkin said, “Turkey, as a regional leader in the crypto asset sector, also dominates stable cryptocurrency trading volumes in the region. We commend the progress Misyon Bank has made as a pioneer in Turkey’s digital asset space, aligning with global trends while showcasing a forward-thinking regional vision.” He further mentioned that they are proud to contribute to Misyon Bank’s journey as it advances toward its ambitious goals.
Notably, WhiteBIT TR offers more than 330 digital assets and 440 trading pairs to users. In just six months, it reached over 100,000 users in Turkey, where they have been operating since 2022 with a 100% compliance assurance.
Questions on digital asset regulation in Turkey answered
Additionally, Muhammet Cerit, CEO of MisyonTech, mentioned that the agreement they signed today with WhiteBIT TR is the first stage of their goal to reach individual investors in Europe. Cerit also responded to questions regarding Turkish laws governing digital assets during the signing ceremony.
He mentioned, “The initial regulations on digital assets in our country have strengthened Turkey’s position as a regional investment hub. We expect the completion of secondary regulations in the first month of 2025, which will also renew crypto investors’ confidence in the market. In this context, our platform is ready to meet the growing supply of crypto assets, both for custody and trading operations.”
To wrap up
Crypto adoption is rising at a fast pace globally, and WhiteBIT TR and Misyon Bank’s latest partnership is yet another example of this. The deal ensures liquidity for major cryptocurrencies on Turkey’s first bank-secured crypto platform, advancing Misyon Bank’s leadership in the digital asset space.
WhiteBIT Group is actively shaping the future of crypto-as-a-service for the business-to-business market, which includes WhiteBIT TR. With over 1,300 institutional clients at the moment, it is amenable to joint ventures with banks, digital payment companies, and other financial institutions.
Thus, the first debit card for cryptocurrency payments was just released by Visa and WhiteBIT. Financial institutions can boost functionality and open up new revenue streams by integrating crypto solutions into their operations. This includes giving customers the ability to store digital assets, create crypto wallets, buy cryptocurrency with fiat, and more. WhiteBIT Group is prepared to enter new partnerships and increase its market share abroad.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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