Aquanow Türkiye Receives Strategic Investment From Oyak Portföy and Finberg
Aquanow Türkiye, a subsidiary of Aquanow, has received a strategic investment from two of Turkey's leading portfolio management companies, Oyak Portföy and Finberg. The investment is the beginning of a strategic partnership focused on developing innovative digital asset solutions for the Turkish market.
Oyak Portföy offers financial services, such as the management of retail and institutional portfolios made up of financial assets, to around 300,000 individual and corporate clients. Finberg is a subsidiary of Fibabanka and is the fastest growing multi VC management company in Turkey.
The strategic investment and long-term partnership positions Aquanow for accelerated growth with trusted institutional partners, in a region with strong demand for digital assets. Turkey is fourth worldwide in terms of crypto transaction volume, behind only the US, India, and the UK, according to a 2023 report released by Chainalysis. Aquanow established its Turkish subsidiary in Q3 202 after seeing the potential of the Turkish market.
"This strategic investment is a meaningful step towards creating greater access to digital asset products and services globally," said Phil Sham, CEO of Aquanow. "Oyak Portföy and Finberg are trusted financial institutions, and Aquanow looks forward to working collaboratively to offer innovative digital asset services that are compliant with emerging legal regulations in Turkey."
Reports have indicated that Turkey is moving towards clarity around crypto regulation, with new rules expected in 2024. In December, the Turkish regulatory authority made technical appointments with experience in crypto assets and blockchain technology to the central bank's rate-setting committee, according to a Bloomberg report. Aquanow will remain in sync with regulations developed under a new Turkish framework for crypto by seeking all required licenses, maintaining all required compliance standards, and becoming fully regulated, as it has done in other countries of operation. .
Earlier this month, Aquanow announced that it was awarded a virtual asset license from Dubai's Virtual Assets Regulatory Authority to begin the requirements to be licensed for full operations in the UAE.
Aquanow has worked closely with global financial institutions, including top-tier banks, brokerages, payment service providers, and enterprises in some of the most progressive crypto jurisdictions. Aquanow is a global leader in digital assets infrastructure and is a facilitator for cryptocurrency trading to over 300 clients. Aquanow ranked amongst the fastest growing companies with a four-year revenue growth rate of 1,842%, according to the Deloitte Technology Fast 500 list.
About Aquanow
Aquanow is a leading digital assets infrastructure provider enabling crypto financial services for institutional clients. Each month, billions of dollar value pass through the company's platform, facilitating a broad range of use cases. Aquanow serves an international customer base that includes the world's fastest-growing banks, neobanks, brokerages, and payment companies. Established in 2018 and headquartered in Canada, Aquanow currently has 100+ team members. To learn more about Aquanow, please go to https://www.aquanow.io.
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