Peer-to-peer crypto marketplace Paxful said it’s partnering with BiLira, the group behind the Turkish lira-backed stablecoin bilira (TYRB), and crypto trading platform Cointral as part of a push to trade cryptocurrencies in Eastern Europe.
Paxful said the move follows strong growth in trading registrations by Turkish users over the past year. Both BiLira and Cointral are based in Turkey.
In an emailed statement, Paxful said it recorded an average monthly trading volume of over $65,000 in Turkey.
- Through its partnership with Cointral, Paxful said its web-based kiosk would be integrated with Cointral’s trading platform, allowing users to make payments with bank transfers and gift cards, among others.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.