Turkish President's Investment Office Chairman, Burak Dağlıoğlu attended CoinTR Two year Anniversary Event.
In a significant celebration held on Nov. 28, 2023, at Istanbul's MANDARIN Hotel, CoinTR, the leading global cryptocurrency exchange, commemorated its successful two-year journey. The event, themed "Empowering Finance, Enabling Wealth Liberation," delved into the rapidly advancing influence of cryptographic practices and technologies in Türkiye.
This event gathered more than 500 participants, comprising representatives from prominent entities such as the Turkish Presidency, the Ministry of Finance, and the Central Bank. Notably, over twenty dignitaries from state-owned banks were also in attendance. The Chairman of the President's Investment Office, Burak Dağlıoğlu, actively participated in the event, attentively listening to a specialized presentation on the development of Turkey's blockchain-driven digital financial infrastructure.
CoinTR CEO Ali Eselioglu publicly introduced CoinTR's digital financial infrastructure solution and vision for the first time during the event. He states:"Facing a historic technological revolution, Turkey is simultaneously presented with opportunities and risks. Therefore, there is a need to build a secure, reliable, and efficient financial infrastructure to support traditional finance and real businesses, seize the dividends of technological change, not only protecting the assets of Turkish citizens but also reducing financial risks. Based in Istanbul, CoinTR aims to contribute its technological prowess to enhance Istanbul's core competitiveness as a global trade free port."
The Presidency of the Republic of Turkey Investment Office is the official organization for promoting Turkey’s investment opportunities to the global business community and for providing assistance to investors before, during, and after their entry into Turkey. Directly reporting to the President of Turkey, the Investment Office is in charge of encouraging investments that are needed for the further economic development of Turkey. To this end, the Investment Office supports high-technology, value-added, and employment-generating investments with its facilitation and follow-up services during whole processes of relevant investments.
What is CoinTR?
METX Digital Information Technology Inc.'s platform, CoinTR, was established in Istanbul as a digital asset service provider. Commencing operations in September 2022, the platform has swiftly carved a niche in the sector, establishing competitive and secure standing through strategic collaborations with traditional Turkish financial institutions, London and Beijing partners, and a team of professionals sourced from leading companies in the blockchain and crypto industry.
CoinTR employs a 3rd generation order matching system, prioritizing user safety and stability in buying and selling experiences. Offering various trading tools, including fiat and spot transactions, the platform ensures a stable, secure, easy, and rapid trading experience, with user assets adhering to official bank controls and international standards.
CoinTR's competitive advantages include a cutting-edge buy-sell system with low latency and high throughput, an authorized capital audit featuring Turkish Lira deposit channels through Vakıf Bank and Ziraat Bank. Moreover, the platform provides competitive buying and selling prices, best spreads, liquidity, and minimal slippage, facilitating user entry into the crypto world through various trading tools. With a commitment to enabling everyone to explore the wealth in the crypto realm, CoinTR's customer representatives are accessible 24/7 for further inquiries.
What did the event accomplish?
CoinTR's CEO, Ali Eselioglu, took the opportunity to unveil the digital financial infrastructure solution and vision for the first time. In his public address, he highlighted, "In the face of a transformative technological era, Türkiye is presented with both opportunities and risks. Establishing a secure, reliable, and efficient financial infrastructure is crucial to support traditional finance and empower tangible businesses.”
He also stated that this not only safeguards the assets of Turkish citizens but also reduces financial risks by a significant margin, and that by being headquartered in Istanbul, CoinTR is committed to leveraging its technological expertise to help the city become more competitive as a trade hub on a global scale, and has established key strategic partnerships with Certik, Solwmist, and Sansec, to achieve that goal.
Türkiye’s significance
Türkiye is currently regarded as one of the world's most promising cryptocurrency markets. The rising inflation rate has significantly influenced the use of cryptocurrencies and Web3 technology in Türkiye, with the country's cryptocurrency trading volume ranking among the top three globally. Between mid-2022 and mid-2023, Türkiye's digital asset usage exceeded $160 billion, accounting for nearly 18% of GDP and 25% of total foreign trade volume.
However, a large portion (90%) of this large-scale digital asset usage occurs on offshore platforms, with little impact on Türkiye's domestic digital economic development. The main reasons for this are Türkiye's lack of a competitive digital asset infrastructure as the country lacks globally leading digital asset custody and payment facilities, and the second reason is that local exchange products and features fail to meet user demands, which is exacerbated by the intrusion of overseas well-known exchanges, prompting Turkish citizens to prefer offshore tools, leaving their assets unprotected by the national government. Turkish investors were unable to retrieve their encrypted assets following the FTX incident, posing a significant threat to Türkiye's social and economic stability.
CoinTR is here to stay
CoinTR currently has over 1 million users and a daily trading volume of $300 million. CoinTR has put together a wallet security team from three of the world's biggest exchanges, including former Huobi vice presidents and over 100 product and technology experts, with roughly 80% of the staff having more than three years of experience in the world's leading exchange industry. CoinTR has been operating flawlessly for eight years with leading global product technology, retaining the highest security record in the sector and managing assets valued at $50 billion.
The team previously created and maintained the world's largest exchange systems, with the technology team contributing to the creation and deployment of licensed exchange products and systems in Japan. A trust license in Hong Kong was also obtained alongside the establishment of effective asset management and wallet systems.
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