Singapore-based cryptocurrency exchange Huobi has announced it will be moving aggressively into the Turkish market over the course of the next 12 months as part of its ongoing plans for global expansion.
The announcement states the exchange plans to include a fiat onramp for Turkish Lira, open a branch office with local resources in Turkey, and localize crypto-related products with customer services.
Huobi Global CEO Livio Weng says Turkey is "a very important and promising prospective market" for the exchange and it plans to take an aggressive approach to bring the Huobi ecosystem around the country.
According to market research and analysis firm Statistica's Global Consumer Survey for 2019, Turkish citizens already have the highest per-capita rate of crypto ownership of all nations surveyed.
Earlier this year, another large cryptocurrency exchange EXMO launched a subsidiary in Turkey as a part of the launch on the Turkish market.
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