Cryptocurrency exchange Gate.io is expected to announce its first ever regional crypto exchange GateTR at Istanbul Blockchain Week (IBW), is taking place from November 14 through 17 in Istanbul, Turkey.
Gate.io is a cryptocurrency exchange that offers more that 1,400 cryptocurrencies and stablecoins, and its team has developed the new platform over the course of the past six months, according to a statement.
Turkey’s crypto market has been booming, or at least cryptocurrencies, as its national currency – the Turkish lira – has been experiencing some serious turbulence.
The regional exchange – GateTR – will be accessible through its own dedicated website, as well as apps, available both for Android and iOS devices.
GateTR is expected to enable users to trade (buy or sell) with Turkish liras (TRY), as well as withdraw to their local bank accounts. Transfers between Gate.io and GateTR accounts are reportedly going to be free.
It was also outlined that GateTR will be implementing the same crypto listing policy as Gate.io as much as possible.
Features will be limited to spot trading at launch but other products and services are expected in the future.
The GateTR team is expected to produce its first collaborations sometime in the first quarter of 2023, with planned announcements including crypto payments in shopping, transportation, and more.
More details could be available during IBW, in which Gate.io is set to host an afterparty with a free NFT drop after its engagement with partners is concluded.
Gate.io founder and chief executive officer Dr Lin Han is also set to deliver a keynote, which will focus on the company’s ecosystem and the role the Turkish crypto scene has to play in it. Additionally, some regulatory compliance details should be expected.
The positive vibes around the highly anticipated event should provide a bit of relief amid the building pressure of speculations over Gate.io’s proof-of-reserves report and its financial stability.
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