Published: 27.04.2022
Article reading time:
1 min.
Cryptocurrency exchange Coinbase completes negotiations with the Turkish platform BtcTurk. The companies have already signed an agreement on the terms of the acquisition, and the deal will amount to $3.2 billion.
According to the Turkish information portal Webrazzi, BtcTurk is in the final stages of negotiations to sell the business to the American exchange Coinbase. The contract will be worth around $3.2 billion. The depreciation of BTC and the Turkish lira gave Coinbase the opportunity to save at least $2 billion on the purchase, as the acquisition price of $5 billion was previously discussed between the companies. However, BtcTurk could be Coinbase’s largest acquisition.
Founded by Kerem Tibuk in 2013, the BtcTurk cryptocurrency exchange serves over 4.5 million customers. Coinbase CEO Brian Armstrong stated that the goal of Coinbase in Turkey is to expand its presence internationally, as well as “expanding reach, providing secure and easy-to-use entry points in every country where we can operate legally.”
In mid-April, the trading platform Coinbase, after six years of development, launched beta testing of a platform for trading non-fungible Ethereum-based tokens.
Source: Bits
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