Turkey’s $200 Billion Market Meets Evolving Banking Rules
Turkish consumers and businesses are gaining access to crypto storage and dollar-backed tokens through banking and exchange partnerships, Ripple outlined Oct. 5. The company highlighted its custody and stablecoin operations in Turkey through Garanti BBVA and domestic trading platforms. The latter distribute Ripple USD ($RLUSD), its dollar-backed stablecoin, as institutions develop services alongside established retail demand.
Reece Merrick, Ripple’s managing director for the Middle East and Africa, stated:
“We’re seeing genuine demand for regulated, dollar-backed liquidity, and that’s why stablecoins like $RLUSD matter here in a very practical way.”
