Anadolubank, one of the reputable Turkish banks, took the first step for crypto money transfers. The bank’s new crypto move allows Paribu users to quickly and easily deposit funds into their exchange wallets.
Collaboration with Paribu for the crypto money move from Anadolubank
According to a new announcement, Anadolubank has launched its new service for fast and easy money transfer to cryptocurrency exchanges. According to the press release, the bank opens the exchange-bank channel through mobile and internet banking applications. In this way, Anadolubank customers will be able to quickly transfer money to their exchange wallets. Anadolubank’s crypto move was realized within the scope of cooperation with Paribu. Anadolubank and Paribu users will now be able to transfer money between accounts via applications.
Reports show the widespread use of cryptocurrencies in Turkey
According to recent reports, Turkey recorded the highest increase in cryptocurrency ownership, especially from 2021 to 2022. Also, Turkey’s cryptocurrency ownership increased by 27.1% from July 2021 to September 2021. According to the latest report published by GWI research, Turkey has become the country with the highest adoption rate in terms of the increase in cryptocurrency ownership. However, Turkey is followed by Argentina and the Philippines with 23.5% and 23.4% increases, respectively.
The research specifically addressed individuals between the ages of 16 and 64. The chart below shows the 15 countries showing the highest growth in crypto ownership. During this period, the global average increased by 11.9%. What is noteworthy is that, despite Turkey’s top position in the chart, the United Arab Emirates, Vietnam and Portugal also recorded strong growth in the period in question. The report did not provide a clear understanding of the reason for the increase in crypto ownership. However, he notes that the three main countries share one thing in common: skyrocketing inflation.
According to economic data at the end of 2021, the Turkish lira rapidly lost 44% of its value against the US dollar. Inflation in Turkey exceeded 30% at the beginning of 2022. At the end of the year, it reached the level of 72.31%. According to the report, these factors lead Turks to cryptocurrencies. This brings the daily trading volume to an average of $1.8 billion.
Erkan Öz says that interest is limited to investment
During this time, Turkish economist and journalist Erkan Öz noted that cryptocurrency adoption has not yet been fully reflected in blockchain initiatives or projects. Noting that he uses cryptocurrencies as inflation protection, he stated that this situation is attributed to the hyperinflation situation in the country.
Similarly, the inflation rate in Argentina rose to 94.8% in 2022. Thus, it recorded the highest rate since 1991. The fall in the value of the Argentine peso encouraged citizens to adopt cryptocurrencies, as happened in Turkey. cryptocoin.com In this article, we have included an up-to-date TripleA report on the Turkish cryptocurrency market.
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