“We believe this acquisition will mark a significant turning point for the cryptocurrency ecosystem in Turkey.” 

Operating in Turkey since 2022, CoinTR has made a notable move among cryptocurrency exchanges by incorporating Bitget Turkey. This step by CoinTR comes at a time when application processes to the Capital Markets Board (SPK) in the cryptocurrency sector are ongoing. 

In Bitget Turkey’s announcement, it was stated that Bitget TR’s operations would be terminated following the acquisition. The announcement added: “Users who wish may continue to use the services previously offered by Bitget TR under the same standards and security levels with their accounts at CoinTR. Customers who prefer to do so can also seamlessly transfer their Turkish Lira and crypto assets to accounts and wallets at other institutions.” 

With this acquisition, CoinTR aims to strengthen its position in the Turkish cryptocurrency market. Such mergers in the cryptocurrency sector often occur during periods of market consolidation and increased competition. These strategic moves can be seen as part of companies’ efforts to expand market share and improve service quality. CoinTR’s acquisition of Bitget Turkey also sends a message to other players in the industry and is seen as a sign of intensifying competition in the market. 

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