A Benchmark for Turkey’s Digital Asset Industry
Turkey’s leading digital bank, BankPozitif, has partnered with Swiss digital asset infrastructure company Taurus to offer institutional-grade cryptocurrency custody solutions. The partnership reinforces BankPozitif’s leadership in Turkey’s emerging fintech sector.
Through this partnership, BankPozitif will integrate Taurus-PROTECT™, a custody solution with safe support for cryptocurrencies, tokenized assets, and digital currencies. Additionally, it will deploy Taurus-EXPLORER™, a blockchain node and indexing solution offering access to multiple blockchain networks.
“Where we’re relying on new products and digitalization, this partnership with Taurus represents a fresh advance,” said Dr. Erkan Kork, Chairman at BankPozitif. “The Turkish banking sector size has grown to 30 trillion liras, and institutional demand for digital asset service keeps increasing.”
Taurus Expands Global Reach
Taurus has been rampantly expanding its footprint, recently collaborating with Chainlink Labs to accelerate tokenized asset adoption. The collaboration introduced Chainlink Data Feeds for real-time asset data and Proof of Reserve for greater transparency to address security and cross-chain connectivity challenges.
Having existing partnerships like Deutsche Bank and State Street, Taurus looks at Turkey as a strategic market.
“High adoption rates, growing institutional demand, and favorable regulatory conditions make Türkiye an exciting place for digital asset banking,” said Lamine Brahimi, Managing Partner at Taurus.
Growing Crypto Adoption in Turkey
Turkey also witnessed a boom in cryptocurrency adoption due to economic conditions and concerns regarding inflation. As regulatory structures change, the alliance of BankPozitif and Taurus sees a more widespread trend of legacy banks incorporating digital asset services to address market demand.
Apart from fortifying Turkey’s digital banking environment, the alliance also indicates growing institutional confidence in Turkey’s crypto market.
