Where Crypto Exchanges Are Beating the Bear Market
Turkish exchanges OKEx and BtcTurk are onboarding thousands of crypto traders as the lira falters.
Paxful said the partnerships will allow users to trade bitcoin and tether using a lira-backed stablecoin.
The new exchange, offering Turkish lira trading pairs, will be owned by Binance but operated by a locally registered company.
From Brazil to Argentina to Turkey, bitcoin priced in local currencies is reaching all time highs. But is this a story of bitcoin succeeding, fiat failing or both?
The relationship between economic crisis and crypto exchange activity in Turkey appears to have changed, with bitcoin coming out on the winning end.
The initiative is part of Turkey's 11th Development Plan aimed at to reinvigorating the national economy.