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June 16, 2022

Web3 payments firm Banxa rolls out local payments in Turkey

Web3 payments firm Banxa has expanded its local payments to Turkey as part of its strategic roadmap to roll out additional features in more markets globally.

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The firm, which claims to be the only on/off ramp operating in Turkey, officially rolled out its payments provisions in this market in May.

Banxa also recently launched its crypto sell product feature for stablecoins in the key markets of Canada, Europe, the UK and Australia. The move enables the firm’s partner ecosystem of exchanges, wallets and other trading platforms to offer a full buy and sell cycle for major stablecoins to their end users.

The firm is currently said to be the only platform that facilitates global off-ramping of stablecoins, leveraging its network of local bank transfers.

Banxa CEO Holger Arians said: “Our partners are continually looking to Banxa to provide new features for their millions of end users, and we are excited that we are able to support them with the ability to offer off-ramping during current market conditions. With plans to expand our offering into more key markets, we are committed to bring new opportunities to our partners and their end users globally.”

As part of its strategic expansion, Banxa has partnered with a number of crypto exchanges in including OKX, AAX and Sayl.Finance.

OKX has been confirmed as the firm’s exclusive launch partner in Turkey.

Commenting on the development, OKX financial market director Lennix Lai said: “OKX is empowering people in Turkey to trade crypto responsibly. High-quality on/off ramp solutions provide more opportunities for people to establish their own financial independence with OKX.

“Our partnership with Banxa will allow us to onboard more users to our platform and offer a broader range of payment options.”

This week, Digital assets platform WonderFi teamed up with Banxa to expand local payment and banking options for its users globally.

Free Report
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Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

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