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Coinbase to acquire Turkish bitcoin exchange BtcTurk

 


According to media reports, the leading American crypto exchange Coinbase is aiming to take over the well-known Turkish Bitcoin exchange BtcTurk.


As the Turkish tech portal Webrazzi reports, citing a report by Mergermarket , the two influential crypto trading platforms are currently only negotiating the final price of the takeover, which is currently said to be just under 3.2 billion US dollars. One of the two companies is said to have already signed the contract.


With the takeover of the Turkish trading platform for Bitcoin ( BTC ), Coinbase boss Brian Armstrong is now actively implementing his announced plan to expand into new markets. As Cointelegraph reported in March, the American crypto exchange in Latin America is already preparing to acquire P2P trading platform Mercado Bitcoin .


The fact that Turkey could be a strategically important piece of the puzzle can be seen not least from the fact that the Turkish population is one of the pioneers in adopting cryptocurrencies in Europe. A current study shows that the country on the Bosporus is even better off in international comparison in terms of profits from the crypto business than in terms of its own economic power (GDP). Turkey comes in a strong sixth place here.


Founded in 2013, BtcTurk is one of the largest and oldest crypto trading platforms in Turkey. This is how it shares the domestic crypto market with its big competitor Paribu. According to CoinMarketCap, the company has more than $196 million in trading volume in the last 24 hours.

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