United Kingdom’s EXMO Crypto Exchange Opens Representative Offices in Istanbul, Turkey
EXMO cryptocurrency exchange announced the opening of their Turkey subsidiary earlier in the week on February 20th, 2019. The new branch strengthens the platform’s position as the largest cryptocurrency exchange in Eastern Europe. The new Istanbul based subsidiary becomes the fourth to be opened by EXMO outside the United Kingdom.
EXMO Cryptocurrency Exchange Has Officially Launched Subsidiary in Turkey!
— EXMO (@Exmo_Com) February 20, 2019
The exchange is working with the Turkish authorities to ensure they comply with all the trading laws before operations kick off. Once registered and all laws followed through, EXMO will be released to the Turkish investors as the exchange starts trading. EXMO exchange further introduced a Turkish version of the website and introduced Turkish Lira trading on the exchange. Users will be able to trade the top currencies including Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) and Stellar (XLM) using the TRY pair.
The Turkish offices show the overall growth of EXMO as it becomes the fourth office to be opened up in Europe after Kiev, Moscow, Barcelona and the head office in the UK. Could this be a contingent plan to Brexit?
Speaking at the Blockchain Economic Summit in Istanbul, CEO of EXMO Cryptocurrency Exchange, Sergey Zhdanov, was ecstatic of the opening of the Turkey offices and addition of the Turkish Lira to the exchange. The cryptocurrency trader base is rapidly increasing in Eastern Europe and Turkey in particular hence the opening of the representative office in Istanbul. Zhdanov said,
“After adding the Turkish lira to the platform and launching the Turkish version of the website, the numbers of traders from the Eastern Region undoubtedly pleases us. So, we have decided not to stop here and open a representative office in Istanbul in order to have even more opportunities in this region.”
The troubles facing the Lira are pushing investors towards investment in cryptocurrencies as the citizens look for a safe haven for the massive inflation. The interest by EXMO exchange in the country may be heavily influenced by the rising number of cryptocurrency holders in Turkey.
EXMO is currently the largest Eastern Europe cryptocurrency exchange with over $30 million USD daily volume traded. Furthermore, the exchange has over 1.6 mln users, 50 000 active daily traders, more than 120 trading pairs, 6 fiat currencies (USD, EUR, RUB, PLN, UAH, TRY) on the platform.