Binance CEO unveils the launch of the new Turkish Lira (TRY) fiat gateway and development plans for the Republic of Turkey during a keynote at the Turkish Capital Markets Summit
The leading global cryptocurrency exchange, Binance, today welcomed users and Turkish people to the early launch of its TRY gateway, providing the purchase of cryptocurrency with the local currency directly on its Buy and Sell Crypto platform.
Binance has partnered with Turkey-based Papara, a regulated and secure payments provider, to integrate its banking solution, to allow users to soon purchase BNB, BTC, ETH and XRP with TRY.
The integration will allow users to directly deposit TRY through Papara after a KYC process to buy crypto instantly with their TRY balance from the exchange later this week. Additional functionalities and features will be announced at a later date, including sell functions.
“Turkey is a vibrant country that has illustrated one of the strongest demands and fast-growing interest in crypto,” said CZ (Changpeng Zhao) Binance CEO. “Turkey has quickly adopted crypto in just the last year as the country faced economic uncertainties, which correlates with global economic markets but twice the rate from its neighboring European countries.”
Ahmed Karslı, Chairman of Papara said "The impressive rate of cryptocurrency and blockchain adoption in Turkey reflects the young and dynamic population of the country. We've been serving the Turkish cryptocurrency community since 2017 and we're proud to continue to do so by enabling Turkish Lira deposits and withdrawals on Binance."
Learn more about Papara’s processing and fees and banking support, including deposits:
Depositing to Papara via wire transfers from 16 different banks is free. More information is available at: https://www.papara.com/#!/support
Deposit fees to Binance are set at 1% of the deposit amount, with a maximum fee of 100 TRY.
Papara provides a 24/7 call center which customers can reach by calling: +90 850 340 0 340.
Customers can also reach Papara support by emailing email@example.com
The Papara integration follows Binance’s growing list of partners to provide easy access and more options throughout regions for the purchase of cryptocurrency with fiat in a fast and secure manner. For more information on buying and selling cryptocurrencies on Binance’s Fiat Gateway channel, please visit: https://www.binance.com/en/buy-sell-crypto.
In addition, Binance licenses its matching engine and wallet technologies to several partner platforms, including Binance Uganda, Binance Jersey, Binance Singapore and newly launched Binance US, which are operated independently in their respective local jurisdictions and offer fiat-crypto trading functions.
Binance is a blockchain ecosystem comprised of several arms to serve the greater mission of blockchain advancement and the freedom of money. Binance Exchange is the leading global cryptocurrency exchange by trading volume, with users from over 180 countries and regions. The Binance ecosystem is also comprised of Binance Labs (venture capital arm and incubator), Binance DEX (decentralized exchange feature developed on top of its native, community-driven Binance Chain blockchain), Binance Launchpad (token sale platform), Binance Academy (educational portal), Binance Research (market analysis), Binance Charity Foundation (blockchain-powered donation platform and non-profit for aiding in sustainability), Binance X (developer-focused initiative) and Trust Wallet (its official multi-coin wallet and dApps browser). For more information, visit: https://www.binance.com
Papara is a better way to send money to friends and family for free and make physical and digital payments. Papara also allows deposits via wire transfers from 16 different banks and cash deposits at more than 50.000 ATMs. Papara has been serving the Turkish cryptocurrency community as a secure, easy and fast way to transfer fiat to and from cryptocurrency exchanges since 2017.