Turkish digital bank BankPozitif is preparing to launch cryptocurrency custody services in collaboration with the Swiss crypto platform Taurus, becoming one of the first in Turkey to offer such services.
Partnership with Taurus
On March 4, BankPozitif announced a strategic partnership with Taurus, enabling its institutional clients to store crypto assets with the bank. The service is expected to be rolled out by June 2025 and will initially feature support for the top five crypto assets by market cap, including Bitcoin, Ether, Tether USDt, XRP, and Solana.
CMB License
According to BankPozitif chairman Erkan Kork, the digital bank has received a crypto custody license from the Capital Markets Board of Turkey (CMB). The local crypto subsidiary, PozitifKripto, has also been granted a service provider license. Kork mentioned that the necessary temporary permit authorization has been completed, leading to the next phase of implementing business rules within the bank.
Collaboration with Other Banks
Apart from BankPozitif, Taurus has been working with three other Turkish banks, including Misyon Bank. Taurus co-founder Lamine Brahimi noted their commitment to supporting Turkey's financial sector with institutional-grade infrastructure, which included partnerships with other crypto-friendly banks such as Garanti Bbva and Akbank.
Turkey continues to actively integrate cryptocurrencies into its financial system. The new project by BankPozitif in partnership with Taurus highlights the country's potential in the sector, backed by new legislation and local assets.
