Turkish digital financial institution BankPozitif is ready to launch cryptocurrency custody companies in collaboration with Swiss crypto platform Taurus, making it the most recent monetary establishment in Turkey to embrace digital belongings.
On March 4, BankPozitif introduced a strategic partnership with Taurus, enabling its institutional purchasers to retailer crypto belongings with the financial institution.
The service is predicted to be rolled out by June and can initially function assist for the highest 5 crypto belongings by market cap, together with Bitcoin (BTC), Ether (BTC), Tether USDt (USDT), XRP (XRP) and Solana (SOL), a spokesperson for BankPozitif informed Cointelegraph.
“Crypto is a really hype matter. We consider that different gamers will even be energetic within the Turkish market. Our younger inhabitants, excessive monetary literacy and a digitally suitable consumer demographic present the premise for this,” the spokesperson mentioned.
BankPozitif acquired short-term crypto nod from CMB
In accordance with BankPozitif chairman Erkan Kork, the digital financial institution has acquired a crypto custody license from the Capital Markets Board of Turkey (CMB).
“Our native crypto subsidiary, PozitifKripto, has additionally acquired the service supplier license,” the chief mentioned in a LinkedIn submit in late February.
CMB license announcement by BankPozitif chairman Erkan Kork on Feb. 28. Supply: LinkedIn
“We have now accomplished the mandatory short-term allow authorization from the Capital Markets Establishment to which we’re affiliated. Any longer, we are going to enter the part of establishing the method inside the financial institution with enterprise guidelines,” Kork informed Cointelegraph.
Associated: Taurus launches Solana-based custody and tokenization platform for banks
In accordance to public CMB information, BankPozitif is amongst 88 companies that declared they are going to function in accordance with Momentary Article 11 of the Capital Markets Legislation No. 6362.
“On this context, the existence of the ‘record of these working’ doesn’t imply that the organizations included on this record are approved in accordance with the related laws,” the authority mentioned.
Taurus works with different Turkish banks
Aside from BankPozitif, Taurus has been working with three different Turkish banks, together with Misyon Financial institution — which introduced its crypto debut in March 2024 — Taurus co-founder Lamine Brahimi informed Cointelegraph.
BankPozitif’s Erkan Kork (left) and Taurus’ Lamine Brahimi. Supply: LinkedIn
“As demand for safe, compliant digital asset options grows, we’re dedicated to supporting Türkiye’s monetary sector with institutional-grade infrastructure — backed by our native presence in Istanbul,” Brahimi mentioned.
Different crypto-friendly banks in Turkey embody Garanti Bbva and Akbank.
As beforehand talked about, Turkey launched new crypto rules within the closing week of 2024, concentrating on stricter Anti-Cash Laundering measures and shopper identification insurance policies.
Journal: How crypto legal guidelines are altering internationally in 2025