OKX Expands its Global Reach With a Turkish Office

One of the leading cryptocurrency exchanges – OKX – intends to open an office in Türkiye in the following months.

The company has already interacted with the Turkish market, launching direct deposits and withdrawals in the country’s official currency – TRY. It also put its name among the numerous crypto platforms that sent aid packages to the nation when a devastating earthquake hit it in February.

Another Expansion Step

OKX’s President – Hong Fang – said the exchange has picked Türkiye as its next destination because it considers it an “important market:”

“Opening an office in Türkiye will be a crucial step for OKX as we move from a trust-based system to one that is trustless and empowers users to take control of their financial future. Türkiye is an important market for us, and we’re excited to build strong relationships with our users and contribute to the development of its crypto ecosystem.”

CIO Jason Lau highlighted the country as a “growing center of innovation and blockchain expertise with a user base that has a strong appetite for crypto.”

Turkish people have indeed displayed huge interest in the digital asset universe lately. One possible reason could be the financial turmoil that looms across the nation and the depreciating official currency. The Turkish lira recently crossed a record low against the US dollar: an event that has previously triggered an increased interest in bitcoin and stablecoins. 

OKX has already taken steps regarding its upcoming expansion, enabling deposits and withdrawals in Turkish Lira (TRY) in March this year. 

“Our goal is to become the leading crypto platform in Türkiye. This starts with listening to the community about their needs and investing in the market. We want to give the Turkish community a platform to explore, experiment, and dream up the future with us.

Perhaps we will see the next big thing come out of Türkiye with the support from us and other crypto companies,” the exchange’s CMO – Haider Rafique – said at the time.

The firm was also one of the multiple contributors that helped Türkiye get back on its feet after the disastrous earthquake that hit the southern part of the nation in February and killed over 50,000 people. 

Stretching to Other Locations, too

Türkiye is not the only place OKX has recently set up a base in. The company, whose main headquarters are in Seychelles, said it will soon open an office in Australia. The popular F1 driver who serves as OKX ambassador – Daniel Ricciardo – said:

“I’m very excited to see OKX plan an office in my home country. I had a great time celebrating with the OKX team and the crypto community today. The future looks bright for OKX in Australia.”

The exchange further displayed its intention to apply for a VASP license in Hong Kong and, thus, strengthen its presence there. The special administrative region of China has emerged as a crypto hub lately after the local authorities announced plans to implement a friendly regulatory framework on the industry.