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Akbank's Game-Changing Move: Acquiring Stablex to Lead the Turkish Crypto Frontier. 🏦💱🤑
Akbank's investment arm, Ak Yatırım, has recently wrapped up its acquisition of Stablex, a leading cryptocurrency exchange in Turkey. This strategic move, initiated in March and finalized in May, solidifies Stablex's position within the Ak Yatırım portfolio.
Strategic Investment:
Ak Yatırım's acquisition of Stablex is a strategic response to the increasing demand for reliable crypto services. This move aligns with Ak Yatırım's commitment to innovation in the dynamic crypto market.
Customer-Focused Approach:
Operating under Ak Yatırım, Stablex is geared towards prioritizing customer-centric initiatives. The aim is clear – to emerge as a significant player in the rapidly evolving Turkish crypto market.
Management Statements:
Mert Erdoğmuş (Stablex CEO and Ak Yatırım General Manager): Stresses the importance of trustworthy and innovative crypto services.
Turgut Güney (Stablex CEO): Highlights achievements like introducing Turkey's first "Demo" account and expresses dedication to continued innovation under Ak Yatırım.
Future Plans:
Ak Yatırım plans to harness its robust infrastructure, funding, experience, human resources, and technology to propel Stablex into the top 3 platforms within the next two years.
Industry Insights:
The acquisition unfolds amidst notable industry developments, such as Coinbase forming investment firms and Binance CEO addressing regulatory concerns.
Stablex, now a part of Ak Yatırım, is set to play a pivotal role in the growth of Turkey's crypto sector. With a focus on innovation and agility, the collaboration aims to contribute significantly to the crypto landscape in the region.
#Akbank #Stablex #AkYatırım #Turkey #exchange
Akbank's investment arm, Ak Yatırım, has recently wrapped up its acquisition of Stablex, a leading cryptocurrency exchange in Turkey. This strategic move, initiated in March and finalized in May, solidifies Stablex's position within the Ak Yatırım portfolio.
Strategic Investment:
Ak Yatırım's acquisition of Stablex is a strategic response to the increasing demand for reliable crypto services. This move aligns with Ak Yatırım's commitment to innovation in the dynamic crypto market.
Customer-Focused Approach:
Operating under Ak Yatırım, Stablex is geared towards prioritizing customer-centric initiatives. The aim is clear – to emerge as a significant player in the rapidly evolving Turkish crypto market.
Management Statements:
Mert Erdoğmuş (Stablex CEO and Ak Yatırım General Manager): Stresses the importance of trustworthy and innovative crypto services.
Turgut Güney (Stablex CEO): Highlights achievements like introducing Turkey's first "Demo" account and expresses dedication to continued innovation under Ak Yatırım.
Future Plans:
Ak Yatırım plans to harness its robust infrastructure, funding, experience, human resources, and technology to propel Stablex into the top 3 platforms within the next two years.
Industry Insights:
The acquisition unfolds amidst notable industry developments, such as Coinbase forming investment firms and Binance CEO addressing regulatory concerns.
Stablex, now a part of Ak Yatırım, is set to play a pivotal role in the growth of Turkey's crypto sector. With a focus on innovation and agility, the collaboration aims to contribute significantly to the crypto landscape in the region.
#Akbank #Stablex #AkYatırım #Turkey #exchange
AK Investment partnering with Stablex
Ak Investment, a wholly-owned subsidiary of #Akbank , has submitted an official application to partner with Stablex, a cryptocurrency exchange. This move indicates Akbank's growing interest in the crypto industry.
The bank's recent partnership with #Binance also highlighted its exploration and interest in cryptocurrencies, as the two companies embarked on direct Turkish Lira transfers.
According to Dunya, Ak Yatrm Menkul Değerler will take control of the majority of Stablex Bilişim Teknoloji A.S. shares. Negotiations between the parties have been ongoing since last year, but official approval from #regulators is still pending.
The first meeting between Akbank and Stablex took place in August 2021. Turgut Güney, Akbank's Assistant General Manager (COO), had previously worked as the CEO of Stablex from 2011 to 2017.
Stablex is an Istanbul-based #cryptocurrency exchange that serves as an intermediary for cryptocurrency trading in Turkish Lira. The company was established in May 2020 by Jihad Shannak and had a capital of 7.6 million Turkish Lira. Additionally, Jihad Shannak is the Turkish affiliate of Dubai-based Orion Investment, Noor Capital Market Menkul Degerler A.S., and Orion Investment Menkul Degerler A.S.
Chainalysis' "2022 Geography of Cryptocurrency" report shows that Turkey ranks 12th out of 154 countries in terms of crypto adoption. This indicates that Turkey is supportive of cryptocurrencies.
The bank's recent partnership with #Binance also highlighted its exploration and interest in cryptocurrencies, as the two companies embarked on direct Turkish Lira transfers.
According to Dunya, Ak Yatrm Menkul Değerler will take control of the majority of Stablex Bilişim Teknoloji A.S. shares. Negotiations between the parties have been ongoing since last year, but official approval from #regulators is still pending.
The first meeting between Akbank and Stablex took place in August 2021. Turgut Güney, Akbank's Assistant General Manager (COO), had previously worked as the CEO of Stablex from 2011 to 2017.
Stablex is an Istanbul-based #cryptocurrency exchange that serves as an intermediary for cryptocurrency trading in Turkish Lira. The company was established in May 2020 by Jihad Shannak and had a capital of 7.6 million Turkish Lira. Additionally, Jihad Shannak is the Turkish affiliate of Dubai-based Orion Investment, Noor Capital Market Menkul Degerler A.S., and Orion Investment Menkul Degerler A.S.
Chainalysis' "2022 Geography of Cryptocurrency" report shows that Turkey ranks 12th out of 154 countries in terms of crypto adoption. This indicates that Turkey is supportive of cryptocurrencies.
According to a report, Akbank has completed official applications to acquire the Turkish cryptocurrency exchange Stablex.
#Akbank #StableX #exchange #crypto2023 #crypto
#Akbank #StableX #exchange #crypto2023 #crypto
Turkey: Akbank Subsidiary Seeks To Become Main Shareholder Of Stablex Crypto Trading Platform
Akbank’s subsidiary, Ak Yatırım, has submitted an application to become the main shareholder of the crypto trading platform, Stablex, according to DUNYA. This move shows the increasing interest of major financial institutions in Turkey to venture into the crypto market.
Stablex, founded in May 2020 by Jihad Shannak, facilitates cryptocurrency transactions with Turkish Lira. If the deal goes through and receives official approval, Ak Yatırım will acquire the majority of Stablex’s shares and assume primary control.
Turkey has emerged as one of the world’s leading countries in the crypto market, according to a report by the blockchain and crypto analysis firm, Chainalysis. The report shows that Turkey ranks 12th out of 154 countries in the Global Crypto Adoption Index, with an average daily cryptocurrency transaction volume of $533 million.
Stablex and Akbank started negotiations in August last year. Turgut Güney, the CEO of Stablex, previously served as the COO of Akbank’s Technology and Operations Department from 2011 to 2017. With the majority of cryptocurrency companies in Turkey already working with Akbank, the move by Ak Yatırım to become the main shareholder of Stablex signals a significant expansion in the bank’s involvement in the crypto market.
The rise of cryptocurrencies globally has not gone unnoticed in Turkey, and regulators are now making moves to establish a regulatory framework for the crypto market. The Central Bank of the Republic of Turkey recently introduced regulations to limit the use of cryptocurrencies for payments, citing concerns over volatility and lack of regulation.
Nonetheless, the move by Akbank’s subsidiary to apply for the main shareholder position of Stablex suggests that the country’s financial institutions see the crypto market as a lucrative opportunity for investment and growth.
It was announced yesterday that Bitfinex will begin offering its services in Turkey. This move comes as no surprise, as Turkey is currently ranked as one of the most active countries in the world for cryptocurrency transactions.
#Akbank #turkey #azcoinnews #Stablex #Bitfinex
This article was republished from azcoinnews.com
Stablex, founded in May 2020 by Jihad Shannak, facilitates cryptocurrency transactions with Turkish Lira. If the deal goes through and receives official approval, Ak Yatırım will acquire the majority of Stablex’s shares and assume primary control.
Turkey has emerged as one of the world’s leading countries in the crypto market, according to a report by the blockchain and crypto analysis firm, Chainalysis. The report shows that Turkey ranks 12th out of 154 countries in the Global Crypto Adoption Index, with an average daily cryptocurrency transaction volume of $533 million.
Stablex and Akbank started negotiations in August last year. Turgut Güney, the CEO of Stablex, previously served as the COO of Akbank’s Technology and Operations Department from 2011 to 2017. With the majority of cryptocurrency companies in Turkey already working with Akbank, the move by Ak Yatırım to become the main shareholder of Stablex signals a significant expansion in the bank’s involvement in the crypto market.
The rise of cryptocurrencies globally has not gone unnoticed in Turkey, and regulators are now making moves to establish a regulatory framework for the crypto market. The Central Bank of the Republic of Turkey recently introduced regulations to limit the use of cryptocurrencies for payments, citing concerns over volatility and lack of regulation.
Nonetheless, the move by Akbank’s subsidiary to apply for the main shareholder position of Stablex suggests that the country’s financial institutions see the crypto market as a lucrative opportunity for investment and growth.
It was announced yesterday that Bitfinex will begin offering its services in Turkey. This move comes as no surprise, as Turkey is currently ranked as one of the most active countries in the world for cryptocurrency transactions.
#Akbank #turkey #azcoinnews #Stablex #Bitfinex
This article was republished from azcoinnews.com
