Coinbase CEO Brian Armstrong has shared the company’s plans for entering the Turkish market, emphasizing their eagerness to operate in the country. Armstrong stated, “Currently, we are not active in Turkey. We aim to obtain the necessary regulatory approvals to begin our operations there.”
Speaking to CNBC-e London correspondent Berfu Guven at Davos, Armstrong explained that Coinbase is ready to start operations in Turkey as soon as the licensing process is completed. He highlighted their commitment to expanding into new markets, including Turkey, where they are keen to launch their services:
“We are not yet operational in Turkey. We are seeking regulatory approval from the authorities. As soon as we receive our license, we will begin our activities in Turkey. We are eager to get started, though the timing will depend on when we secure our license—whether that happens this year remains uncertain.”
Meeting Global Leaders: Promoting Economic Freedom and Strategic Bitcoin Reserves
During his time in Davos, Armstrong revealed that he had the opportunity to meet with finance ministers from various countries, discussing the benefits of cryptocurrencies:
“We focus on economic freedom during these discussions. Cryptocurrencies, in my opinion, protect people worldwide from inflation. They enable fast and affordable payments. Some governments we’ve spoken with are even exploring the idea of developing strategic Bitcoin reserves,” Armstrong said.
‘Trump and Congress Are Open to Crypto’
When asked about the potential impact of a second Trump administration on cryptocurrency regulations, Armstrong expressed optimism:
“We are very optimistic about this. Trump has expressed interest in being the world’s first ‘crypto president.’ Both he and Congress seem very open to the idea. Hopefully, we’ll see new legislation on crypto in the U.S. in the near term.”
‘Crypto Strengthens Traditional Money’
Armstrong also emphasized how cryptocurrencies complement traditional financial systems:
“Cryptocurrencies actually strengthen traditional money. In the U.S., for example, we have USDC—a tokenized dollar that can be used globally. This digital dollar enhances the value and utility of fiat money like the classic U.S. dollar. Bitcoin, in many ways, has become the new gold standard for the world. Moreover, it will soon allow companies to raise capital like securities. Traditional money and crypto are not competing but rather complementing one another.”
Coinbase’s entry into Turkey marks another step in its global expansion. The company is preparing to launch its operations as soon as regulatory approval is granted, signaling its commitment to growing the adoption of cryptocurrencies worldwide.
Source: CNBC-e/ Prepared by: İlayda Gök