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Binance CEO Virtually Meets Turkish Finance Minister to Discuss Crypto

The chief executive officer of the Binance exchange met with Turkey's finance minister

Turkey is a technology-adopting country, and government institutions are supportive of crypto and blockchain technology adoption. In the previous 2-3 years, the Turkish Lira's value versus the US dollar has plummeted dramatically, putting extra pressure on Turkish citizens to invest in stablecoins and Bitcoin in order to combat inflation.

On July 27, Turkey's Finance Minister, Nureddin Nebati, took to Twitter to inform his followers that he had met with Changpeng Zhao, CEO of the Binance exchange. The entire debate revolved around the cryptocurrency and blockchain industries.

Because neither the Binance CEO nor the Turkish minister discussed specific crypto-related issues, we can conclude that the conversation was mostly about formal crypto regulation, adoption, and revolution.

Binance has a big Turkish consumer base


It is worth noting that Turkey is the top country for Binance exchange because it has the highest number of Binance customers.

Binance recently opened a customer care support facility in Turkey as a pilot. If Binance receives better results from its newly built physical customer care centre, it will open more such offices in other countries.

The global economy, particularly Turkey's, suffered greatly as a result of the Covid-19 pandemic. The country's situation deteriorated due to an economic downturn and a drop in the value of the Turkish Lira. Over the previous six months, the government has worked on an international level to make its economy more dependent on and integrated with the economies of other emerging countries. Turkey, in particular, had a collaborative meeting with bitcoin-friendly El Salvador to trade resources.
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