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XRP Turkey's retail cryptocurrency transaction volume at the beginning of 2026 increased by 7% year-on-year to US$40 billion.
According to Ripple data, Turkey's retail cryptocurrency transaction volume at the beginning of 2026 increased by 7% year-on-year to US$40 billion. This growth helped Turkey move from seventh to fifth in the global adoption index ranking.
Turkey builds a standardized crypto market
Currently, Turkey's annual cryptocurrency trading volume is close to US$200 billion. Cumulative inflows from 2021 to mid-2025 are approximately US$878 billion. At the same time, due to factors such as dependence on imported oil and natural gas, the Turkish lira continues to be under pressure. Ripple pointed out that these market environments have increased demand for U.S. dollar stablecoins such as RLUSD.
The regulatory framework is also evolving rapidly. Law No. 7518, passed in July 2024, gives the Capital Markets Board the authority to supervise crypto-assets. Subsequently, supporting rules were introduced in March 2025, introducing a licensing system, minimum capital requirements and anti-money laundering obligations for cryptocurrency service providers.
Ripple extends hosting services and RLUSD access channels
The new hosting rules will take effect in June 2026, and the transition period has been adjusted accordingly. Ripple emphasized that compliance remains a requirement for the continued operation of a company. Its hosting infrastructure supports Garanti BBVA Kripto's digital asset platform. The platform subsidiary uses Ripple Custody to provide retail custody, transfer and fiat deposit and deposit services, supporting assets such as Bitcoin, Ethereum and XRP. Ripple said the bank has expanded the scope of the service after a successful pilot in 2023.
In addition, RLUSD has been launched on many Turkish exchanges such as BiLira and Bitlo. Ripple pointed out that these listings provide Turkish users and institutions with dollar-backed liquidity.
Merrick highlights rising institutional demand
During the Istanbul Fintech Week, Reece Merrick, Ripple Middle East and Africa Managing Director, discusses Turkish market dynamics. He pointed out that early retail investors have promoted the popularity of the crypto market due to monetary pressure; with the improvement of the regulatory system, institutional investors are gradually following suit.
Merrick highlighted Ripple's hosting cooperation with Garanti BBVA, as well as the RLUSD access services provided through BiLira and Bitlo. He said that Turkey is located at the intersection of Europe, the Middle East and Asia, and institutions are building regulated digital asset products. Ripple's strategy combines custody, compliance and stablecoin infrastructure to help banks and exchanges improve their service capabilities.
