BTSE, an over-the-counter trading platform and crypto futures, has released support for BiLira’s Turkish stable coin TRYB. TRYB can now trade against Tether (USDT) in the BTSE spot markets.
BTSE co-founder and CEO Jonathan Leong said the move “enables Turkish consumers to secure lower fees through remittances as well as instant settlement for TRYB users.”
Leong said BTSE has entered the Turkish market. earlier this year, saying the stock market had amassed a “strong and growing community in Turkey.”
He also noted “increased demand for options through the Turkish lira,” prompting the decision to add a TRYB
stablecoin.BiLira is the 19th crypto asset for which BTSE introduced pairs.
Turkey and the adoption of cryptocurrencies
Addressing Cointelegraph, Vidal Arditi, BiLira’s COO, predicts that Turkey will become a leading jurisdiction in the global blockchain industry, highlighting high levels of crypto literacy and mastery among the general population.
Anecdotally, he reports that Turkish citizens use mainly crypto assets to trade and to hedge risk. Arditi argues that trade is a key part of Turkish culture, saying “[Turkey’s] cultural nuances really resonate with blockchain and cryptocurrencies.”
“[…] You can use QR codes and you can use your mobile banking app for almost anything,” he added.
“We are not here to create a bubble”
While emphasizing Turkey’s strong trade traditions, Arditi stressed that BiLira “is not here to speculate”.
“We are not here to create a bubble. “We are here to create real use cases, which is why we have created our system and our platform in such a way that people can buy up to 100,000 euros a month without paying even a pound for commissions, ” he said.
“This is to make it as accessible as possible, even if it will harm our company financially in the short term. Just to make sure we highlight the valuable offering of this product and how it can really change the lives of these people. “
” There are many immigrants living in this country who send salaries every week to their families in different countries. “There are people who don’t have to have a bank account who would like to and can transfer [this] cryptocurrency with a few clicks of a button,” Arditi added.