The SPK has updated its “Operating Companies List,” which showcases crypto asset service providers that have applied for preliminary licenses. Initially, the list featured 47 companies, but the latest update now includes a total of 76 companies.

Among the newly added companies, Backpack Exchange stands out. Backpack Exchange is a centralized cryptocurrency exchange based on the Solana blockchain. It offers a reward system that grants users points based on their trading volumes. Additionally, the platform boasts advantages such as privacy, speed, and low transaction fees.

Interestingly, major global exchanges like KuCoin, Gate.io, Crypto.com, and BingX, which were absent from the earlier list, have now also been added.

Here is a list of the newly added companies:

Akatılım (Aigen Software and Technology Foreign Trade Import and Export Inc.)
Balance Network (Balance Network Crypto Asset Informatics and Technology Inc.)
BINGX TR (BINGX TR Technology Inc.)
BitTurk (Bittürk Informatics and Trade Inc.)
Byte Exchange (Bytedex Technology Inc.)
Citypay (Citypay Computer Technologies Trade Limited Co.)
Coinbase (Coinbase Turkey Software Technologies Inc.)
Destek Kripto (Destek Group Technology Services Inc.)
EXZI (EXZI Technology Trade Inc.)
Felixo (Felixo Technology and Software Inc.)
Finnova (Finnova Technology Inc.)
Crypto.com (Foris DAX TR Technology Inc.)
Fasset (FTL Technology Inc.)
GateTR (Gate Technology Inc.)
GMS Kripto (GMS Global Technology Inc.)
Türkiye İş Bankası (Türkiye İş Bankası Inc.)
KarumX (Karum Financial Technology Inc.)
Kointra (Kointra Informatics and Technology Inc.)
KuCoin TR (Kuturk Informatics and Technology Inc.)
Trinkex (Loop Technology Software and Consulting Trade Inc.)
AeronX (Magician of Meta Technology Inc.)
Misyon Financial Technologies Inc.
Misyon Investment Bank Inc.
Nexo (Nexo Technology Inc.)
Paribu Digital Asset Custody Technologies Inc.
Sarus Software Services Industry and Trade Inc.
Backpack Exchange (Trek Labs Technology Inc.)
Block Earner (WEB3 Technology Inc.)
Norbi (Yenkido Informatics Services Trade Inc.)

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Coinbase‘s entry into the Turkish market has the potential to offer local investors a wide range of crypto assets and advanced trading platforms. This development could also contribute to the expansion of Turkey’s crypto ecosystem.

Coinbase’s move towards Türkiye is seen as a reflection of the increasing interest in cryptocurrencies in the country. Turkey has experienced a significant increase in cryptocurrency usage in recent years, which has attracted the attention of global exchanges.

If the CMB accepts the application, it is expected that Coinbase’s services for cryptocurrency investors in Turkey will diversify, and competition will increase. However, there is no information yet on whether the application will be approved or how long the process will take.

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