Bybit Türkiye, a partner of the global cryptocurrency exchange Bybit, has been recognised as a crypto asset service provider by Turkey’s Capital Markets Board (CMB).
This approval enables the platform to operate within Turkey's regulatory framework for the crypto industry.
Operating through its local entity, Narkasa Yazilim Ticaret Anonim Sirketi, Bybit Türkiye has prioritised compliance with Turkish regulations since its rebranding in June 2024.
Bybit Türkiye’s country manager, Kutluhan Akçin, expressed satisfaction with the recognition, stating, "We are pleased to be included in the CMB’s list of operating exchanges."
The recognition allows Bybit Türkiye to continue offering its services to local users, including the integration of Turkish lira trading pairs and partnerships with banks like Ziraat Bank and Vakifbank.
The platform has also introduced features such as a one-click buy option, catering to various types of traders in the Turkish market.
Bybit Türkiye emphasises providing reliable customer support with localised services available 24/7.
As of September 23, the Turkish lira accounted for 0.07% of Bitcoin (CRYPTO:BTC) trading volume.
However, it held a larger share in Tether (CRYPTO:USDT) transactions, making up 23.26% of all pairs, according to cryptocompare.com data.