Tagged: turkey

Fintech Giants Papara and SadaPay Merge in Multi-Million Deal

Turkish financial technology giant Papara has announced its acquisition of Pakistan’s emerging Fintech star, SadaPay, in a strategic all-stock deal valued between $30 to $50 million. The agreement also includes an additional $10 million investment from Papara to support SadaPay’s technological development and expansion strategies,… Read More

Turkey Is Finalizing Crypto Regulatory Framework, Aims to Ensure Compliance, According to FATF Standards

Turkey’s Minister of Treasury and Finance Mehmet Şimşek has shared insights regarding part of what’s expected to be included in the country’s upcoming crypto regulations. The Turkish government said it would be legally defining key concepts related to crypto and will comment on the licensing… Read More

Dubai Islamic Bank Enters Digital Banking Sector in Turkey

Dubai Islamic Bank (DIB), the largest participation bank by asset size in the United Arab Emirates, has officially entered the Turkish digital banking and fintech sector after acquiring a minority stake in T.O.M. Group. Established by Aydın Group shareholders, the T.O.M. Group includes T.O.M. Katılım… Read More

MENA Region Crypto Report: UAE Leads the Way in Supporting Regulatory Clarity for Digital Assets

The MENA region reportedly has the sixth largest crypto economy of any region studied this year, “with an estimated $389.8 billion in on-chain value received between July 2022 and June 2023,” according to an update from Chainalysis. Chainalysis also mentioned that this “represents nearly 7.2%… Read More

Thousands of Years in Prison: Thodex Turkish Crypto Exchange Founder Gets Long Sentence

Faruk Fatih Özer, the former Chief Executive of collapsed Turkey-based cryptocurrency exchange Thodex, has reportedly been sentenced to 11,196 years in prison on Thursday (September 7, 2023). Stealing around $2 billion from his clients led to the CEO of one of Turkey’s biggest virtual currency… Read More

Craftgate Technology, a Payment Orchestration Platform, Receives Investment to Expand Operations

Craftgate Technology, a “One-Stop Shop” payment orchestration platform, announces that the company received USD 1 million investment from D-MARKET Electronic Services & Trading (d/b/a ‘Hepsiburada’) (NASDAQ: HEPS), a Turkish e-commerce platform and D4 Ventures, a UK-based venture capital company. Based in İstanbul, Türkiye, Craftgate helps… Read More

Turkish Fintech Param Accelerates European Expansion with Twisto Acquisition

Param, which claims to be Turkey’s biggest FinTech, is entering the European market with the acquisition of leading CEE Buy Now, Pay Later (BNPL) provider Twisto. Setting the scene for wider global expansion, Param is “introducing its technology and integrated embedded finance products and services… Read More

Garanti BBVA’s Fintech Unit Introduces Digital Assets Platform

Garanti BBVA, which claims to be a leading force in digitization in the Turkish banking industry, has announced the launching of Garanti BBVA Digital Assets, the first venture of its subsidiary Garanti BBVA Financial Technologies. With a pilot already in progress, the company will initially… Read More

Emirates NBD, a Financial Services Group in MENA Region and Turkey, Launches Updated WhatsApp Banking Service

Emirates NBD, a banking group in the MENA region and Turkey, has launched an enhanced and upgraded version of its WhatsApp banking service, “providing customers with a convenient, secure and reliable digital banking experience like never before.” Emirates NBD WhatsApp banking “allows customers to seamlessly… Read More

MENA Region’s Emirates NBD to Enhance Business Operations with Generative AI

Emirates NBD, a banking group in the MENA region and Turkey, has announced a transformation focused on harnessing the power of generative AI to change Emirates NBD’s operations and enhance productivity across various business functions supported by Microsoft. This collaboration aims “to unlock new opportunities… Read More

Fintech NomuPay Raises $53.6M to Provide Enterprises with An ‘All Access Pass’ for Payments

NomuPay, a modern end-to-end payment platform purpose built for expansion into regions of high cross-border and ecommerce growth, has raised $53.6m. The investment round was “led by Finch Capital, and includes participation from Outpost Ventures, a Neuberger Berman fund, with participation from individuals.” Peter Burridge,… Read More

Biometric Payment Cards: IDEX Biometrics Adds Issuer in Turkey as Expansion of Business Continues

IDEX Biometrics is expanding biometric payment card programs in Turkey with a fourth issuer. This fast growing bank challenger “represents a customer portfolio of more than 10 million customers.” The biometric payment cards from this issuer are “expected to be in consumers’ hands by the… Read More

Turkey Reports 637 Fintechs as of February 2023

Recently, the government of Turkey published a “Fintech Guide” highlighting innovative financial services firms operating in the country. The Presidency of the Republic of Türkiye Finance Office (CBFO) reports that as of February 2023 there were 637 Fintechs providing payments, DeFi, digital banking and more…. Read More

Digital Assets: Mercuryo, Simpledo to Make Buying Crypto Seamless for Turkish Clients

Mercuryo, the “all-in-one” cryptocurrency platform, is pleased to announce its partnership with Simpledo, an emerging crypto provider in Turkey. This partnership is aimed “at expanding Mercuryo’s global presence and enhancing its services for customers in Turkey.” Simpledo offers “a range of crypto solutions to its… Read More

Turkey: First Payment Transactions on Digital Turkish Lira Network Executed Successfully

In the scope of the first-phase studies of the Digital Turkish Lira Project, conducted under the leadership of the Central Bank of the Republic of Türkiye (CBRT), the first payment transactions on the Digital Turkish Lira Network were “executed successfully.” The CBRT will “continue to… Read More

Emirates NBD Introduces Digital Payment Solutions for ENOC Group

ENOC Group has accelerated its digitization strategy through a collaboration with Emirates NBD, a banking group in the MENA region (and Turkey), in order “to implement innovative payment solutions.” ENOC Group has “successfully implemented Emirates NBD’s Host to Host (H2H) services for payments and account… Read More

Emirates NBD to Support Metaverse Startup Accelerator

Emirates NBD, a banking group in the MENA region an Turkey, has launched a global accelerator program for metaverse start-ups “to enhance customer experience for the new virtual economy, in partnership with the Dubai International Financial Centre (DIFC) Fintech Hive, the largest financial technology hub… Read More

Avelacom Updates Low Latency Network in Middle East, Turkey

Avelacom, the low latency connectivity, IT infrastructure and data solutions provider for financial markets, recently announced new optimized routes on its network to Istanbul (Bursa Istanbul), Riyadh (Saudi Stock Exchange, Tadawul) and Tel Aviv (Tel Aviv Stock Exchange, TASE). These routes should help with encouraging… Read More

TNS Introduces Market Data Services for Borsa Istanbul

Transaction Network Services (TNS) is now connected to Borsa Istanbul (BIST) as a market data vendor. Opening up access to Turkey’s sole exchange with order routing and market data connectivity to the BIST matching engine in Istanbul “allows TNS’ customers to capitalize on trading activities… Read More

Embedded Fintech Platform Colendi Acquires London’s Enterprise Blockchain Firm SETL

Colendi, the embedded Fintech services platform in Turkey and surrounding regions, announced its acquisition of London-based blockchain settlements and payments provider SETL. Launched in 2015, SETL claims to be one of the leading enterprises blockchain companies “known for its high-profile work with selected Central Banks… Read More

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