Turkish digital financial institution BankPozitif is about to launch cryptocurrency custody providers in collaboration with Swiss crypto platform Taurus, making it the most recent monetary establishment in Turkey to embrace digital belongings.
On March 4, BankPozitif introduced a strategic partnership with Taurus, enabling its institutional shoppers to retailer crypto belongings with the financial institution.
The service is anticipated to be rolled out by June and can initially function assist for the highest 5 crypto belongings by market cap, together with Bitcoin (BTC), Ether (BTC), Tether USDt (USDT), XRP (XRP) and Solana (SOL), a spokesperson for BankPozitif advised Cointelegraph.
“Crypto is a really hype matter. We consider that different gamers may also be energetic within the Turkish market. Our younger inhabitants, excessive monetary literacy and a digitally appropriate person demographic present the premise for this,” the spokesperson stated.
BankPozitif obtained short-term crypto nod from CMB
In line with BankPozitif chairman Erkan Kork, the digital financial institution has obtained a crypto custody license from the Capital Markets Board of Turkey (CMB).
“Our native crypto subsidiary, PozitifKripto, has additionally obtained the service supplier license,” the manager said in a LinkedIn publish in late February.
CMB license announcement by BankPozitif chairman Erkan Kork on Feb. 28. Supply: LinkedIn
“We have now accomplished the required short-term allow authorization from the Capital Markets Establishment to which we’re affiliated. Any longer, we’ll enter the section of organising the method throughout the financial institution with enterprise guidelines,” Kork advised Cointelegraph.
Associated: Taurus launches Solana-based custody and tokenization platform for banks
According to public CMB knowledge, BankPozitif is amongst 88 companies that declared they’ll function in accordance with Short-term Article 11 of the Capital Markets Legislation No. 6362.
“On this context, the existence of the ‘checklist of these working’ doesn’t imply that the organizations included on this checklist are licensed in accordance with the related laws,” the authority stated.
Taurus works with different Turkish banks
Aside from BankPozitif, Taurus has been working with three different Turkish banks, together with Misyon Financial institution — which announced its crypto debut in March 2024 — Taurus co-founder Lamine Brahimi advised Cointelegraph.
BankPozitif’s Erkan Kork (left) and Taurus’ Lamine Brahimi. Supply: LinkedIn
“As demand for safe, compliant digital asset options grows, we’re dedicated to supporting Türkiye’s monetary sector with institutional-grade infrastructure — backed by our native presence in Istanbul,” Brahimi stated.
Different crypto-friendly banks in Turkey embody Garanti Bbva and Akbank.
As beforehand talked about, Turkey introduced new crypto regulations within the last week of 2024, concentrating on stricter Anti-Cash Laundering measures and shopper identification insurance policies.
Journal: How crypto laws are changing across the world in 2025
