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Alliance with Global Leader in Cryptocurrency Technologies

Turkchem 13 Nov 2024 35 2 dk okuma
Alliance with Global Leader in Cryptocurrency Technologies

Misyon Bank has launched Turkey's first tokenization-enabled, bank-backed crypto-asset platform through MisyonTech, its subsidiary operating in the crypto sector. All crypto trading and issuance transactions on the platform will take place in collaboration with global crypto leader Avalanche.

 

Avalanche, a high-performance blockchain network designed for scalability, has once again demonstrated Misyon Bank's confidence in digital asset technologies through this platform partnership. In recent months, Misyon Bank's initial pilot project for tokenizing Turkish Eurobonds was also executed on the Avalanche blockchain network.

Avalanche, one of the most trusted networks among global crypto investors, enables the Misyon crypto platform to stand out through speed, security and favorable transaction costs.

"We are Gaining at Least 1.5 Years for New Institutions"

Misyon Bank Chief Executive Officer Dr. Önder Halisdemir said, "This step, which is the product of the capacity we have developed over the past two years in tokenization and crypto assets, supports our goals of making our country an attraction center for international investors and establishing the region's technology hub in digital assets. We can provide ready-made infrastructure that will save at least 1.5 years for countries and regional institutions seeking to advance in this field. Our country, which is the world's third-largest crypto market by transaction volume, aims to achieve a leading position in digital assets for the region."

Regarding the platform's custody infrastructure, Halisdemir stated, "We have localized Swiss technology preferred by State Street, a global investment bank managing USD 40 trillion in assets, and strengthened it with expert teams through 1773 ITÜ Technopark Technology Transfer Office (TTO). Our custody technology integrated into the platform is unique and singular in the region."

"Turkey is Ready to Become a Center of Regional Interest"

Ava Labs Founder CEO Dr. Emin Gün Sirer stated, "Turkey, with its rapidly developing digital asset technology ecosystem, strategic location and qualified workforce, has the potential to meet regional-scale interest in crypto assets. Misyon Bank is a strong partner in our goal of expanding throughout the regional ecosystem."

What Can Be Done on the Platform?

  • In addition to widely circulated global crypto assets, tokens produced in Turkey can be easily bought and sold through the platform.
  • Investors will be able to conduct trading transactions by connecting from TL accounts at any bank or directly from their crypto wallets.
  • Crypto assets in investors' wallets will be securely protected on Misyon Bank's systems established in Turkey, which is listed as a "Custodian Crypto Service Provider" on the Capital Markets Board's published list.
  • Institutions will be able to issue tokens with characteristics they determine within the framework of permissions and regulations set by the Capital Markets Board (CMB) and offer them on the platform.

 

About Misyon Bank

Turkey's first Neobank, Misyon Bank, is advancing towards its goal of becoming the region's leading investment bank by focusing on custody, platform, correspondent banking and digital asset services to meet the needs of the new economy.

Within the scope of Custody Banking services, Misyon Bank, which has Turkey's broadest custody ecosystem ranging from securities to digital assets, has localized and strengthened Swiss custody technology preferred by leading banks worldwide through partnership with 1773 ITÜ Technopark Technology Transfer Office (TTO).

Misyon, which offers securities custody services to capital markets under the "anakasa" brand, has completed its preparations for digital asset custody and platform operations and has taken its place on the Capital Markets Board's Crypto Asset Service Providers List alongside its subsidiary MisyonTech.

 

 

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