Türkiye Emerges as a Top Digital Assets Market with Ripple Leading the Way
Türkiye is rapidly emerging as a leading market for digital assets, with retail crypto trading volume surging 7% year-on-year to USD 40 billion in early 2026. This growth has propelled the country from seventh to fifth place in a global adoption index. While retail investors initially drove adoption, businesses are now increasingly using digital assets as practical financial tools, creating an ideal environment for Ripple's infrastructure and stablecoin.
The country's annual crypto transaction volume now nears USD 200 billion, with cumulative inflows of roughly USD 878 billion between 2021 and mid-2025. The Turkish lira has faced significant pressure, particularly due to reliance on imported oil and gas, leading to tighter monetary policy. In this context, digital assets are increasingly seen as a store of value rather than speculative investments, boosting demand for dollar-backed stablecoins like RLUSD.
Türkiye's regulatory framework for digital assets has evolved rapidly. Law No. 7518, passed in July 2024, granted the Capital Markets Board (CMB) legal authority over crypto assets. Secondary regulations in March 2025 introduced licensing requirements, minimum capital thresholds, and anti-money laundering obligations for crypto asset service providers (CASPs). New rules on crypto custody came into force in June 2026, with the regulator adjusting deadlines to accommodate market needs.
Ripple has established a strong presence in Türkiye, becoming the only infrastructure provider to meet the CMB's institutional custodian requirements. Garanti BBVA Kripto, a subsidiary of Garanti BBVA, uses Ripple Custody to secure its crypto trading platform, offering customers services for major assets like bitcoin, ether, and XRP. Additionally, RLUSD is now listed on Turkish exchanges such as BiLira and Bitlo, providing regulated dollar-backed liquidity.
Reece Merrick, Managing Director of Middle East and Africa at Ripple, highlights Türkiye's strategic position between Europe, the Middle East, and Asia. He notes that the demand for regulated, dollar-backed liquidity is driven by the need to protect assets amid currency pressure. Ripple's approach focuses on providing bank-grade infrastructure, compliance, and operational rigour to support durable growth in digital asset adoption.