Giant Coinbase takes over Turkish site BTCTurk

According to media reports, the American crypto exchange Coinbase has entered the final stage of negotiations with the BTCTurk platform regarding the accession of the latter. The Turkish-based exchange could be acquired for as much as $3.2 billion.

At the moment, the two parties have signed a preliminary document. Work on the deal moved into due diligence mode.

Coinbase's strategy clearly shows the desire to strengthen its position in economically attractive countries. Already in the spring of 2022, management announced plans to join another company - Mercado Bitcoin. This is a large crypto broker operating in South America. In April, the venture department of the crypto platform Coinbase took part in an investment debate with the BTC exchange CoinDCX (India). The company has already launched a test project of its NFT market.