Blockchain.com Works with Turkish Lira
Blockchain.com has officially launched a full banking integration for Turkish Lira (TRY). And they aim to make a native payment gateway for users to withdraw and deposit Lira on its trading platform. In this development, users in Turkey do not need to incur high fees and conversion rates from third-party payment processors. Also, Turkish traders had regularly been one of the most active countries on the firm’s exchange since launching last summer.
Blockchain.com is a famous provider of cryptocurrency products, with more than 40 million wallets made up to date. On the trading platform, Turkish people can finally deposit, withdraw, and use TRY to purchase Bitcoin (BTC), ETH, and USDT. After that, they could convert their crypto into the fiat currency of their choice.
Blockchain.com’s co-founder and CEO Peter Smith stated that Turkey became one of the countries which leads the charge to accept cryptocurrencies. However, “its traders have only experienced high fees and poor service.”
Then, economic concerns regarding the stability of the local fiat triggered cryptocurrency adoption in Turkey to grow quicker than in most countries.
At the start of 2020, a report revealed that Turkish authorities, warned by the faster spread of cryptocurrencies in the country, are increasing efforts to start a greater oversight into the sector.
Aside from that, local media disclosed that regulators are under pressure to boost supervision. This is due to the growing popularity of decentralized crypto assets. Turkey has about 1 million investors. Additionally, a fifth of Turkish respondents in the Global Consumer Survey last year answered that they have or used crypto.
Also, the CEO indicated that Blockchain.com would make sure to give a fair, global market for Turkey’s traders. In addition to that, it would set a new standard for the service they “should not only expect but demand exchanges.”
When it comes to the digital assets space, Blockchain.com became one of the most trusted companies. And it has made over $70 million in funding from investors like Lightspeed Venture Partners and Google Ventures.
Also, it is famous for being friendly to the BCH community, integrating the cryptocurrency into its services. For about a year before, the firm, for example, launched Bitcoin Cash block explorer. This lets users search for detailed information on specific BCH blocks. It checks whether a transaction has confirmed, views the balance of a wallet address, watch market prices, and even monitors real-time network transactions.
In a recent poll, it revealed that they have community support for Zcash mining reward changes. And this would take effect in November 2020. Also, in November, Zcash Founder’s Reward will terminate, questioning the privacy asset’s mining situation.
With the use of a bevy of avenues, including Telegram and Twitter, Zcash foundation questioned the coin’s community on mining payouts going forward.
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