On April 30, several customers of Yapı Kredi Bank received a survey about cryptocurrency services. This development quickly translated into reality as expected, aligning with the prediction made. As Bitcoin (BTC) 
$91,967 hit an all-time high, the Turkish banking giant took steps to introduce its cryptocurrency services, marking a pivotal moment for Turkey’s financial landscape.
Yapı Kredi and Cryptocurrency
I vividly recall the SMS message I received, which prompted the release of the article titled “Is Yapı Kredi Bank Opening a Cryptocurrency Exchange?” Now, with BTC reaching a new record of $116,868, the news confirms, “Yes, the exchange is launching.”
Experienced Turkish investors can recall instances where banks warned them against using cryptocurrency exchanges, with some even going as far as closing accounts. Although it is uncertain if Yapı Kredi took such measures, it is evident that banks once cautious about cryptocurrency are now launching their crypto services. Their financial counterparts, such as BlackRock with its SPX-indexed ETF, have observed potential earnings from similar ventures.
Opening a Cryptocurrency Exchange
As a subsidiary of Koç Holding, the largest conglomerate in Turkey, Yapı Kredi’s venture into cryptocurrency is significant. Being part of an organization that encompasses leading brands across various sectors, this initiative is a bold step forward. Yapı Kredi Bank officially announced through the Public Disclosure Platform (KAP) that they are establishing a new company under Yapı Kredi Financial Technologies A.Ş. to engage in cryptocurrency trading.
The bank stated that the new company would be set up to facilitate the buying and selling of cryptocurrencies. Yapı Kredi Financial Technologies A.Ş. will oversee the operations, and Yapı Kredi Bank will participate in capital hikes necessary for this endeavor, as outlined in the announcement.
“The Bank’s Board of Directors has decided to establish a company under Yapı Kredi Financial Technologies A.Ş., entirely owned by our Bank, for cryptocurrency trading activities. It is planned to address the company’s capital needs, which may reach up to 1,185,000,000 TL, by March 26, 2026. Authority has been granted to the General Directorate for necessary applications and procedures. Important developments regarding the process will be shared with our investors.”
BBVA had similarly entered the cryptocurrency market. Various banks have already ventured into crypto products, signaling a new era for Turkish investors. Instead of worrying about using cryptocurrency exchanges, investors can now confidently purchase cryptocurrency through their banking institution. 😊
