Turkey’s digital banking sector is taking a major leap into the world of crypto. BankPozitif, a leading digital financial institution, has announced a strategic partnership with Swiss crypto platform Taurus, setting the stage for the launch of institutional-grade crypto custody services. This move not only reinforces Turkey’s increasing engagement with digital assets but also signals a broader trend toward regulated crypto adoption.
Set to roll out by June 2025, the service will initially support the top five cryptocurrencies by market cap, including:
- Bitcoin (BTC)
- Ethereum (ETH)
- Tether (USDT)
- XRP (XRP)
- Solana (SOL)
BankPozitif’s entry into crypto custody reflects a growing demand for secure and regulated digital asset solutions within Turkey’s financial sector. A bank spokesperson highlighted Turkey’s tech-savvy, financially literate population as a key driver behind this initiative, stating:
“Crypto is a very hype topic. We believe that other players will also be active in the Turkish market. Our young population, high financial literacy, and digitally compatible user demographic provide the basis for this.”
Regulatory Green Light
The bank has already received temporary regulatory approval from the Capital Markets Board of Turkey (CMB). According to BankPozitif Chairman Erkan Kork, the bank’s crypto subsidiary, PozitifKripto, has also secured a service provider license to facilitate digital asset custody.
“We have completed the necessary temporary permit authorization from the Capital Markets Institution to which we are affiliated. From now on, we will enter the phase of setting up the process within the bank with business rules,” Kork noted.
While the CMB’s approval provides a pathway for compliance, it also signals a shift in Turkey’s stance on institutional crypto services. The country has been actively refining its crypto regulations, with recent updates targeting stricter Anti-Money Laundering (AML) protocols and client identification requirements to ensure market integrity.
Taurus Expands Its Presence in Turkey
BankPozitif is not alone in its collaboration with Taurus. The Swiss firm has also established partnerships with at least three other Turkish banks, including Misyon Bank, which recently announced its entry into the crypto space.
Taurus co-founder Lamine Brahimi emphasized the company’s commitment to supporting Turkey’s financial sector with institutional-grade digital asset solutions, backed by its local presence in Istanbul. This aligns with the broader global trend of traditional financial institutions embracing digital assets, particularly in regions with high crypto adoption rates like Turkey.
Turkey has emerged as a key player in the global crypto landscape, with one of the highest digital asset adoption rates worldwide. Recent regulatory developments indicate a more structured approach toward integrating crypto into the traditional financial system, balancing innovation with compliance and security.
With BankPozitif’s upcoming launch, the stage is set for further institutional engagement in Turkey’s crypto economy. This move could accelerate the mainstream acceptance of digital assets, paving the way for more financial institutions to explore regulated crypto services.
Looking Ahead
As Turkey continues refining its crypto regulations, more banks may follow BankPozitif’s lead in launching secure, institutional-grade custody services. The next phase of Turkey’s crypto evolution will likely focus on scalability, compliance, and integration with existing financial structures.
With major players like Taurus and BankPozitif leading the charge, Turkey’s digital asset market is poised for exponential growth, reshaping how traditional finance interacts with the world of cryptocurrencies.
