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Bitcoin exchange Coinbase is in the final stages of negotiations to acquire Turkey-based cryptocurrency trading platform BtcTurk. Citing local sources, The Block writes that the deal could amount
Bitcoin exchange Coinbase is in the final stages of negotiations to acquire Turkey-based cryptocurrency trading platform BtcTurk. Citing local sources, The Block writes that the deal could amount to $3.2 billion.
The parties signed a protocol of intent and due diligence continues.
Founded in 2013, BtcTurk serves 4.5 million users.
According to Cumhuriyet, the platform’s trading volume was ~$116 billion in 2021.
The initiative reflects Coinbase’s intention to strengthen its presence in developing countries. According to Bloomberg, in March 2022, the bitcoin exchange agreed to take over the operator of Latin America’s largest crypto broker, Mercado Bitcoin.
Recall that in April, Coinbase’s venture division participated in the investment round of the Indian bitcoin exchange CoinDCX.
Earlier, the cryptocurrency exchange launched the beta version of the NFT market.
Source: Fork Log
I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
