Cryptocurrency Companies in Turkey - List and Analysis 2025

Turkey's cryptocurrency sector is growing rapidly. Law No. 7518, which came into effect on July 2, 2024, has established a legal framework for crypto asset service providers. This guide will examine in detail cryptocurrency companies, exchanges, and platforms operating in Turkey.

🏛️ Legal Status and SPK Regulations

Law No. 7518

Effective July 2, 2024, the law has:

• ✅ Crypto asset service providers are subject to SPK supervision
• ✅ Licensing requirement has been introduced
• ✅ Capital adequacy conditions have been determined (50 million TL)
• ✅ MASAK notification is mandatory (from May 1, 2025)

Current Status

As of 2025:

• ⚠️ SPK licensing processes are ongoing
• ⚠️ Existing exchanges are in transition period
• ✅ MASAK notification must be made
• ✅ KVKK compliance is mandatory

📊 Cryptocurrency Exchanges in Turkey

SPK List of Active Companies (Temporary List)

Important Note: Being on SPK's "List of Active Companies" does not mean these companies are authorized by SPK. This list is created for public information purposes regarding companies that have declared they will operate under Article 11 of Law No. 6362.

Source: SPK List of Active Companies

Crypto Asset Trading Platforms on SPK List (58 Companies)

Trading Platforms:

1. Arbitex Crypto Asset Trading Platform Inc. (Former: Arbitex Financial Technologies Inc.)
2. Bilira Crypto Asset Trading Platform Inc. (Former: Bilira Technology Inc.)
3. Binance Turkey Crypto Asset Trading Platform Inc. (Former: BN Technology Inc.)
4. Bitbns Crypto Asset Trading Platform Inc. (Former: Bitbns Technology Inc.)
5. Bitexen Crypto Asset Trading Platform Inc. (Former: Bitexen Technology Inc.)
6. Bithero Crypto Asset Trading Platform Inc. (Former: Bithero Electronic Services Inc.)
7. Bitlo Crypto Asset Trading Platform Inc. (Former: Bitlo Technology Inc.)
8. Btcturk Crypto Asset Trading Platform Inc. (Former: Eliptik Software Trade Inc.)
9. Bybit Crypto Asset Trading Platform Inc. (Former: Narkasa Software Trade Inc.)
10. Citypay Crypto Asset Trading Platform Inc. (Former: Citypay Computer Technologies Trade Inc.) ... (and 39 more platforms)

Custody Service Applicants:

50. Akbank Inc. (Custody Application)
51. Btcturk Digital Custody Management Inc. (Former: Eliptik Digital Custody Management Inc.) (Custody Application)
52. Digital Guardian Technology Inc. (Custody Application)
53. Istanbul Clearing and Custody Bank Inc. (Custody Application)
54. Mission Investment Bank Inc. (Custody Application)
55. Paribu Crypto Asset Custody Institution Inc. (Former: Paribu Digital Asset Custody Technologies Inc.) (Custody Application)
56. Garanti Bank of Turkey Inc. (Custody Application)
57. İş Bank of Turkey Inc. (Custody Application)
58. Yapı ve Kredi Bank Inc. (Custody Application)

Leading Exchanges

1. BtcTurk

Established: 2013
Status: One of Turkey's first cryptocurrency exchanges
SPK List: ✅ Btcturk Crypto Asset Trading Platform Inc.

Features:

• ✅ Spot trading (instant buy/sell)
• ✅ P2P trading
• ✅ Staking services
• ✅ Mobile app (iOS & Android)
• ✅ Turkish Lira (TL) support

Security:

• ✅ Cold wallet storage
• ✅ Two-factor authentication (2FA)
• ✅ SSL encryption
• ✅ Regular security audits

SPK Status:

• ⚠️ SPK license process ongoing
• ✅ MASAK notification made

2. Paribu

Established: 2017
Status: One of Turkey's largest cryptocurrency exchanges
SPK List: ✅ Paribu Crypto Asset Trading Platform Inc.
Custody Service: ✅ Paribu Crypto Asset Custody Institution Inc. (Custody Application)

Features:

• ✅ Spot trading
• ✅ Margin trading (leverage)
• ✅ Staking and earning
• ✅ NFT marketplace
• ✅ Mobile app

Security:

• ✅ Cold wallet infrastructure
• ✅ Multi-signature system
• ✅ Security insurance
• ✅ 7/24 security monitoring

SPK Status:

• ⚠️ SPK license process ongoing
• ✅ MASAK notification made

3. Bitlo

Established: 2018
Status: Leading cryptocurrency exchange in Turkey
SPK List: ✅ Bitlo Crypto Asset Trading Platform Inc.

Features:

• ✅ Spot trading
• ✅ P2P trading
• ✅ Staking services
• ✅ Mobile app
• ✅ API support

Security:

• ✅ Cold wallet storage
• ✅ 2FA support
• ✅ Security audits

SPK Status:

• ⚠️ SPK license process ongoing

4. Binance TR

Established: 2020 (as FTX TR), converted to Binance TR in 2023
Status: Binance's Turkey operation
SPK List: ✅ Binance Turkey Crypto Asset Trading Platform Inc.

Features:

• ✅ Spot trading
• ✅ Futures trading
• ✅ Staking
• ✅ Binance Pay integration
• ✅ Mobile app

Security:

• ✅ Binance's global security infrastructure
• ✅ SAFU fund (user protection fund)
• ✅ Cold wallet storage

SPK Status:

• ⚠️ SPK license process ongoing

📈 Market Analysis

Market Share

2024-2025 data:

• Paribu and BtcTurk: Control 87% of total trading volume
• Other exchanges: Have the remaining 13% market share
• SPK List: 49 trading platforms + 9 custody service applications = 58 companies

SPK Temporary List Status

Important Information:

• ⚠️ This is a temporary list and does not mean SPK authorization
• ⚠️ Companies have declared they will operate
• ⚠️ License processes are ongoing
• ✅ For public information purposes

🔒 Security and Compliance

Security Standards

Security measures of crypto exchanges in Turkey:

• ✅ Cold wallet storage (%95+)
• ✅ Multi-signature systems
• ✅ 2FA (two-factor authentication)
• ✅ SSL encryption
• ✅ Regular security audits

Compliance Status

MASAK Notification:

• ✅ BtcTurk: Notification made
• ✅ Paribu: Notification made
• ⚠️ Other exchanges: Notification process ongoing

KVKK Compliance:

• ✅ All exchanges must be KVKK compliant
• ✅ Information texts must be published
• ✅ Cookie policies must be created

📊 SPK License Status

License Process

As of 2025:

• ⚠️ License processes ongoing
• ⚠️ Transition period is being applied
• ✅ Existing exchanges continue operations
• ⚠️ New exchanges require license

License Requirements

According to Law No. 7518:

• ✅ Joint stock company structure
• ✅ 50 million TL paid-in capital
• ✅ SPK establishment permit
• ✅ SPK operating permit
• ✅ MASAK notification

⚠️ Important Considerations

For Investors

Selection Criteria:

1. ✅ Security measures (cold wallet, 2FA)
2. ✅ Compliance status (MASAK, KVKK)
3. ✅ SPK license process (progress status)
4. ✅ Liquidity (trading volume)
5. ✅ Customer support (7/24 support)
6. ✅ Transparency (openness policies)

Risk Warnings

Investment risks:

• ⚠️ Cryptocurrency investments are high risk
• ⚠️ Market volatility is high
• ⚠️ Regulation risk exists
• ⚠️ Security risk (hack, fraud)
• ⚠️ Liquidity risk (on small exchanges)

Recommendations:

• ✅ Only invest money you can afford to lose
• ✅ Do your own research (DYOR)
• ✅ Choose reliable exchanges
• ✅ Use cold wallet (for long-term investment)
• ✅ Enable 2FA

📞 Contact and Resources

Official Resources

• SPK (Capital Markets Board): spk.gov.tr
• MASAK (Financial Crimes Investigation Board): masak.gov.tr
• KVKK (Personal Data Protection Authority): kvkk.gov.tr

Crypto Exchanges

• BtcTurk: btcturk.com
• Paribu: paribu.com
• Bitlo: bitlo.com
• Binance TR: binance.com/tr

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Note: This guide is provided free of charge for informational purposes only. No fees are required to access this content.## Conclusion

Turkey's cryptocurrency sector is growing rapidly and Law No. 7518 has established a legal framework. Important points:

1. ✅ SPK license processes ongoing
2. ✅ MASAK notification mandatory
3. ✅ Security measures critical
4. ✅ Compliance (KVKK, MASAK) mandatory
5. ✅ Investors should choose reliable exchanges

Cryptocurrency investments are high risk. Always do your own research before investing and only invest money you can afford to lose.

Contact us for current information about the sector! 🚀