Crypto Exchange BTSE Adds Support For Turkish Stablecoin BiLira

Announcements, News | May 25, 2020 By:

BTSE, a British Virgin Islands-based crypto exchange, has added support for BiLira (TRYB) on its platform, bringing the total number of currency available on the platform to 19.

BTSE is a financial technology company that utilizes bitcoin and cryptocurrency technologies to develop solutions that empower users to take control of their financial freedom. As part of a suite of financial services designed to introduce innovative digital assets to the traditional finance landscape, BTSE’s developments include spot and derivatives trading, OTC, and lending services.

Launched late last year, TRYB is a stable cryptocurrency pegged to the Turkish Lira (TRY). It’s vision is to offer every Turkish citizen a seamless connection to the decentralized Internet using the power of cryptocurrency and blockchain technology.

The additiong of BiLira on BTSE’s exchange is a positive step from the country which has been in support of cryptocurrency and blockchain for years. Introduced as an easy spot market pair between USD Tether – the largest stablecoin on the market – and the Turkish BiLira (TRYB), the move has strong support from local Turkish banks and is the next step towards Istanbul’s goal to become a global financial center for flourishing trade.

“Listing the TRYB stablecoin enables Turkish users to facilitate lower fees via remittances, as well as instantaneous settlement times for TRYB users,” said Jonathan Leong, CEO and Co-Founder of BTSE. “We are excited that through this collaboration with BiLira, we are able to increase the overall accessibility of global assets and trading options for users in Turkey.”

Vidal Artditi, COO of BiLira, said that Turkish citizens are curious to analyze new ways to innovate within the blockchain space – with existing applications in trading, education, remittances, online gaming, sports and more, adding that trhe country is the epicenter of change, with regulators, public and private organizations experimenting with cryptocurrencies.

“This is the first time in cryptocurrency history that an individual exchange will offer its users the ability to trade against more than 10 fiat and stable currencies,” said Artditi. “We are excited to be a part of the change with BTSE that will innovate the current FX business to a new level that hasn’t been done before.”