Turkey-based Akbank has become the first bank to directly integrate with cryptocurrency exchange company Binance.
The partnership will enable the bank’s customers in Turkey to deposit Turkish Lira (TRY) to their Binance account through their bank account.
The bank users can now deposit and withdraw TRY using the Binance via desktop and the iOS App in Turkey.
Binance has users from more than 180 countries and regions.
Its blockchain ecosystem comprises of Binance Labs, Binance DEX, Binance Launchpad, Binance Academy, Binance Research, Binance Charity Foundation, Binance X and Trust Wallet.
Binance CEO Changpeng Zhao said: “As part of our mission to continue working on increasing the freedom of money worldwide and notably in a country that is fast-adopting digital assets, we are expanding the available options to lower the barrier to entry.
“As the industry scales with our products and services that grow in tandem, the availability and process of investing, exchanging and trading crypto will become more and more seamless.”
Founded in 1948, Akbank is a privately held commercial bank in Adana, Turkey with 770 branches across the country.
Its core banking activities include corporate and investment banking, commercial banking, SME banking, consumer banking, payment systems, treasury transactions, private banking, and international banking services.