Tagged: turkey

OmegaPro Scammer Apprehended in Turkey

In 2020, the French Autorité des Marchés Financiers (AMF) and the Autorité de Contrôle Prudentiel et de Résolution (ACPR) added OmegaPro and affiliated platforms to its “blacklist” of trading platforms that consumers should avoid. Unfortunately, that was insufficient to deter people from throwing good money… Read More

Binance Assists Crypto Exchange BtcTurk Following Major Security Breach and Hack

Digital currency exchange Binance is reportedly assisting in investigating a recent attack carried out against Turkish crypto exchange BtcTurk, with more than $5 million in pilfered funds now having been frozen. This, according to social media update from Binance CEO Richard Teng. Teng noted that… Read More

Turkish Fintech Startups Raise $166 Million Funding in Jan-May 2024

Turkish Fintech startups have achieved a record investment of $166 million in the first five months of 2024, showcasing significant growth within the sector. This information was detailed in the “Türkiye Fintech Snapshot for May 2024,” published by the Presidency’s Finance Office, which tracks the development… Read More

Papara/DriveWealth Partnership Gives Turks Real-Time U.S. Market Access

This week, Turkish Fintech Papara, announced a partnership with DriveWealth. The union allows Papara’s 20 million users to invest in real-time in U.S. stocks on the Nasdaq and NYSE starting in October. Since 2020, the number of retail investors in Turkey has surged from 1.2… Read More

Turkey Fintech: Sipay Raises $15 Million Series A

Sipay, a company that claims to be the fastest-growing Fintech in Turkey, is reporting a $15 million Series A funding round. Sipay states that investors participating in the round include Jitendra Gupta of Citrus Pay and Jupiter, Amrish Rau of Pine Labs, Kunal Shah of… Read More

Fintech Thunes Explains Why Turkey Is Expected to Lead Digital Payments Adoption

From e-wallets to neobanks, Türkiye’s (Turkey) financial institutions are accelerating fintech innovation, supporting greater connectivity to international markets, financial inclusivity at home and more economic prosperity for businesses. Thunes is a key payments player in Turkey’s ecosystem. Thunes says its extensive payments network in the… Read More

Turkish Digital Bank Colendi Bags $65m in Series B Funding

Colendi, a digital banking startup based in Turkey, has successfully raised $65 million in a Series B funding round, marking a significant milestone for the country’s fintech sector as it enters 2024 with strong momentum. This funding round has propelled Colendi’s valuation to an impressive… Read More

Tether and Fuze to Focus on Digital Asset Education Initiative in Turkey and Middle East

Tether, which claims to be among the largest companies in the digital assets industry, and Fuze, a digital assets infrastructure provider with offices in Abu Dhabi, Dubai, and Istanbul, have signed a Memorandum of Understanding (MoU) in order “to establish the terms of a collaboration… Read More

Insurtech CyberCube Software Licensed By Turkish Broker Integra to Support Cyber Growth

Integra Insurance and Reinsurance Broking Services is to become the first Turkish broker to roll out CyberCube’s Broking Manager, the cyber risk analytics platform for insurance intermediaries. Integra reportedly holds a key position in the Turkish market “as the leading cyber insurance broker.” It will… Read More

Digital Assets Platform OKX TR Launched in Türkiye as Part of Global Expansion

OKX is announcing the official launch of our crypto exchange in Türkiye, OKX TR. OKX says they are pleased to provide Turkish users “with a trusted, compliant and transparent gateway to crypto trading and decentralized finance.” Currently, the OKX Web3 Wallet is “available in Türkiye… Read More

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

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