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Election 2024

Paxful, Turkey-Based BiLira, Cointral to Expand Crypto Offerings in Eastern Europe

Paxful said the partnerships will allow users to trade bitcoin and tether using a lira-backed stablecoin.

By Jaspreet Kalra
AccessTimeIconOct 12, 2020 at 9:24 p.m. UTC
Updated Aug 19, 2021 at 4:56 a.m. UTC
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Peer-to-peer crypto marketplace Paxful said it’s partnering with BiLira, the group behind the Turkish lira-backed stablecoin bilira (TYRB), and crypto trading platform Cointral as part of a push to trade cryptocurrencies in Eastern Europe. 

Paxful said the move follows strong growth in trading registrations by Turkish users over the past year. Both BiLira and Cointral are based in Turkey. 

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    • In an emailed statement, Paxful said it recorded an average monthly trading volume of over $65,000 in Turkey.

    • Paxful said under the partnership with BiLira, users will be able to and sell bitcoin (BTC) and tether (USDT) using the bilira stablecoin. “Bitcoin can be used to preserve wealth against instability surrounding the Turkish lira,” said Ray Youssef, CEO of Paxful, in an emailed statement. 
    • Through its partnership with Cointral, Paxful said its web-based kiosk would be integrated with Cointral’s trading platform, allowing users to make payments with bank transfers and gift cards, among others.

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