The exchange leader Binance officially announced on Tuesday that BinanceTR will offer lira trading pairs with bitcoin (BTC), ether (ETH), tether (USDT), XRP and its own Binance coin (BNB) and BUSD stablecoin.The new subsidiary owned by Binance will operate by an independent company BN Teknoloji A.S.
The company spokesperson avoided to comment on the the relationship between Binance and BN Teknoloji as both sides had signed a non-disclosure agreement.Trbinance will be able to enter in the broader exchange’s liquidity through Binance Cloud.
SAFU Fund will cover the Users’ assets which is also known as Binance’s emergency insurance fund.
Turkey has one of the highest rates of crypto users. According to global servey 16% of citizens having either bought or used digital assets in 2019 using crypto.
Binance founder and CEO Changpeng Zhao said in a statement that Turkey will be the key market to help the exchange bridge the gap between Asia and Europe.