Place/Date: Turkey – December 7th, 2022 at 12:50 pm UTC · 3 min read
Source: CoinTR
CoinTR is a global exchange based in Turkey, located in MASLAK, a modern business district in Istanbul. The founding team comes from the world’s top blockchain companies, including Binance, Huobi, etc. At present, CoinTR has completed the first round of financing of 15 million US dollars.
More than 100 product and technical experts and the wallet security team from the world’s top three exchanges, including the former vice president of Huobi to build CoinTR together. 80% of our employees have more than three years of industry experience in the world’s leading exchanges, allowing us to create a great product and system with globally competitive function and performance in a very short period of time.
Thanks to its independently developed world’s leading third-generation trading system, CoinTR can bring users an excellent trading experience, ensure the 99.99% continuous stability of the trading system, and provide users with a fast, safe, and convenient trading experience. CoinTR is also equipped with rich product functions, including Fiat currency deposits, Fiat currency transactions, Spot, Futures transactions, and other diversified trading tools. Currently, the purchase of more than 100 cryptocurrencies is available on CoinTR. Cooperating with the leading international liquidity institution Amber Group, CoinTR is providing the best depth and smallest slippage to its users.
CoinTR attaches great importance to users’ fund security and asset management specifications, so they have cooperated with the Turkish state-owned bank VakıfBank to provide users with TRY deposit channel. All the deposits from users will be credited into an independent bank-supervised account which is only used for the deposit and withdrawal of platform users. In terms of on-chain asset security, a multi-signature cold wallet system is adopted to avoid single-point risk. We’re communicating with more banks trying to provide users with more bank deposit channels. At the same time, CoinTR adopts the three major international financial management standards SOX404, GAAP, and ISO27000 to ensure very strict internal financial supervision.
With the implementation of Turkey’s regulatory policies gradually, good regulatory policies will provide a healthier environment for the development of the crypto industry. CoinTR Compliance Officer Yakup DEMİR, retired Banking Regulation and Supervision Agency, Senior Chief Banking Specialist, said:
“We will actively embrace compliance and take the safety of user assets as the first principle. By the end of 19 September 2022, we have notified MASAK (Financial Crimes Investigation Board) that our company will be operational. Currently, our company is serving as a digital asset trading platform and all users’ funds are subject to MASAK’s supervision.”
Blockchain technology has great potential to change our lives and bring us real value. However, the risks involved have also aroused great attention from regulators. According to numerous sources, regulators are working on laws to regulate business activities and asset management measures of crypto exchanges.
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