Ripple Boosts Turkey's Crypto Trading Volume to $40 Billion
Prefer us on GoogleTurkey has become an important market for cryptocurrency adoption. According to Ripple's report, individual crypto trading volume is expected to reach $40 billion by early 2026, with an annual growth rate of 7%. Turkey has risen from seventh to fifth place in TRM Labs' global crypto adoption index. Ripple noted that the growth cannot be explained solely by individual investors, as businesses starting to use digital assets for daily financial needs marks a new phase in the market's development. Turkey's annual crypto trading volume is approaching $200 billion, with total crypto asset inflows estimated at around $878 billion between 2021 and 2025. Pressure on the Turkish lira and high inflation are increasing interest in digital assets. The clarification of the legal framework regarding crypto assets in Turkey is supporting banks' participation in the sector. The Law No. 7518, accepted in July 2024, granted legal authority over crypto assets to the Capital Markets Board. Ripple is focusing its activities in Turkey on crypto asset custody infrastructure and the provision of RLUSD. Garanti BBVA's digital asset subsidiary utilizes Ripple Custody technology. Ripple considers Turkey a strategic market and expects institutions to take a more active role in the sector.
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