- Türkiye’s retail crypto trading volume rose 7% year-on-year to $40 billion in early 2026, according to Ripple.
- New regulations introduced licensing, capital requirements and AML obligations for Turkish crypto service providers.
- Ripple expanded institutional infrastructure through Garanti BBVA Kripto custody and RLUSD listings on Turkish exchanges.
Türkiye’s crypto market is moving beyond retail trading as institutions enter a more regulated digital assets sector. Ripple said retail crypto trading volume rose 7% year-on-year to $40 billion in early 2026. The increase helped Türkiye rise from seventh to fifth in a global adoption index, according to Ripple.
Türkiye Builds a Regulated Crypto Market
Türkiye’s annual crypto transaction volume now approaches $200 billion. Cumulative inflows reached about $878 billion between 2021 and mid-2025. Meanwhile, pressure on the Turkish lira has continued, with Ripple citing reliance on imported oil and gas.
Ripple said these conditions have increased demand for dollar-backed stablecoins such as RLUSD. The regulatory framework has also changed quickly. Law No. 7518, passed in July 2024, gave the Capital Markets Board authority over crypto assets.
Secondary rules followed in March 2025. They introduced licensing, minimum capital requirements and anti-money laundering obligations for crypto service providers.
Ripple Expands Custody and RLUSD Access
New custody rules took effect in June 2026, while transition deadlines have also been revised. Ripple said compliance remains an ongoing requirement for businesses. According to Ripple, its custody infrastructure supports Garanti BBVA Kripto’s digital asset platform.
The subsidiary uses Ripple Custody for retail custody, transfers and on- and off-ramping. Garanti BBVA Kripto supports bitcoin, ether and XRP through the platform. Ripple said the bank expanded the service after a successful 2023 pilot.
Meanwhile, RLUSD is listed on several Turkish exchanges, including BiLira and Bitlo. Ripple said the listings provide dollar-backed liquidity to Turkish users and institutions.
Merrick Highlights Institutional Demand
Reece Merrick, Ripple’s Managing Director for the Middle East and Africa, discussed Türkiye during Istanbul Fintech Week. He said retail investors initially drove adoption amid currency pressure. Merrick said institutions are now following as regulation develops.
He highlighted Ripple’s custody work with Garanti BBVA and RLUSD access through BiLira and Bitlo. Ripple said Türkiye is between Europe, the Middle East and Asia. The company also said institutions are building regulated digital asset products.
Merrick said Ripple’s approach combines custody, compliance and stablecoin infrastructure. He described the services as part of its work with banks and exchanges.
