Key Takeaways:
- Retail trading is estimated to have reached approximately $40 billion in early 2026 and crypto transaction volume has exceeded $200 billion in a year in Türkiye.
- Ripple continues to build on its local footprint by developing its infrastructure and dollar-backed stablecoin, RLUSD.
- Garanti BBVA Kripto has partnerships with Ripple Custody, platforms like BiLira and Bitlo have partnerships with RLUSD.
Türkiye is becoming one of the most dynamic digital asset markets in the world, while ongoing risks to the lira are helping it venture further away from retail speculation into the crypto market.
Ripple is zeroing in on that transition as banks, exchanges and businesses are looking for regulated infrastructure to keep digital assets and the dollar safe.
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Türkiye’s Crypto Market Approaches $200 Billion
Total volume of crypto transactions in Turkey has reached $200 billion a year, with crypto inflows of approximately $878 billion since 2021 and up to mid-2025.
Retail activity also remains strong. As the early 2026 data shows, trading volume surged by 7% year on year to around $40 billion placing Türkiye in the top five countries for crypto adoption in a submerged global ranking. The market is seeking to go beyond the individual trader, however.
Digital assets are being adopted by businesses and financial institutions for actual financial transactions as pressure on the dollar currency grows and liquidity remains constrained.
As a result of that environment, there is a more pressing need for investing in stable coins, like Ripple USD, or RLUSD.
Ripple Expands Custody Through Garanti BBVA Kripto
Crypto regulations became much stricter in Türkiye since 2024. Regulatory authority over cryptocurrencies was assigned to the Capital Markets Board (CMB) by Law No. 7518, and subsidiary rules were included in March 2025 and provided the regulatory framework for crypto asset service providers as well as licensing, capital and anti-money laundering requirements.
In addition, further custody conditions were established by the extension of the restrictions in 2026 to solidify the regulatory framework for digital asset companies in the nation. Ripple has taken advantage of that change to further expand its institutional penetration.
Garanti BBVA Kripto, digital asset subsidiary of Garanti BBVA, utilizes Ripple Yard, the solutions supplier, to service its Bitcoin, Ethereum and XRP operations. Following its successful pilot in 2023, the service was rolled out to the bank’s customers later that year.
RLUSD Adds a Dollar-Linked Option
Another opportunity for Ripple’s stabilization is with regular distribution of the stablecoins. The Turkish platforms Bilira and Bitlo are offering to institutions and users this asset, the dolhardollar, in the era when the demand for dollar-backed liquidity is increasing.
The shift is particularly important as retail investors turned to cryptocurrencies as a viable alternative when the lira has not been able to withstand the inflationary pressures.
Digital asset services are now expanding as banks and financial companies sense more assurance in the certification. Ripple has identified Türkiye as a potential market for their custody, compliance and stablecoin solutions, in addition to a country with high levels of crypto adoption.
