On March 4, 2025, Turkish digital bank BankPozitif announced that it has partnered with Swiss infrastructure giant Taurus to launch institutional-grade crypto custody services, marking a pivotal shift in Türkiye’s digital banking landscape. The collaboration aims to meet surging demand for secure digital asset solutions amid rapid regulatory advancements.
Partnership Details
BankPozitif will integrate Taurus’s custody and blockchain tools to expand its digital asset offerings. Taurus, backed by Deutsche Bank and Credit Suisse, recently opened an Istanbul office to strengthen its regional presence.
“Growing institutional demand drives the need for sophisticated banking infrastructure,” Taurus stated. BankPozitif Chairman Erkan Kork emphasised the partnership aligns with the bank’s digital transformation goals, calling it a “significant step” to address market needs.
The bank plans to roll out custody services by June, initially supporting Bitcoin, Ether, Tether, XRP, and Solana. Over 2 million customers and $7 billion in loans position BankPozitif as a key player in Türkiye’s fintech surge.
Taurus New Crypto Services
BankPozitif will deploy two Taurus platforms: PROTECT, a multi-configuration custody system, and EXPLORER, a blockchain node infrastructure. These tools enable connectivity to public and private chains while ensuring compliance with evolving Turkish regulations.
The platforms aim to balance security with accessibility for retail and corporate clients. Taurus co-founder Lamine Brahimi noted Türkiye’s “high adoption rates and constructive regulations” create ideal conditions for innovation.
Meanwhile, BankPozitif’s crypto subsidiary, PozitifKripto, secured a temporary license from Türkiye’s Capital Markets Board (CMB). Chairman Kork confirmed the bank is finalising operational processes under regulatory guidelines.
Türkiye’s Crypto Market
Türkiye’s crypto sector is booming, with 26 million active users and projected 2025 revenues of $1.7 billion. New laws, including July 2024’s Capital Markets amendments, now govern crypto service providers.
Stricter anti-money laundering (AML) rules take effect in early 2025, aligning Türkiye with global standards. The “Travel Rule,” implemented in February, mandates data verification for transactions exceeding 15,000 TL ($460).
Authorities have approved 88 firms under temporary licensing frameworks, though the CMB warns inclusion doesn’t guarantee full compliance. BankPozitif’s licensing milestone underscores its proactive stance in a competitive market.
Turkish Banks Accelerate Crypto Adoption
BankPozitif joins Misyon Bank, Garanti Bbva, and Akbank in offering crypto services. Misyon Bank tapped Taurus for custody tech in March 2024, signalling a broader institutional shift.
“Demand for compliant solutions is rising,” Brahimi said, highlighting Taurus’s commitment to Türkiye’s financial sector. A BankPozitif spokesperson added the country’s young, tech-savvy population fuels crypto hype, predicting more market entrants.
However, competition is intensifying. Over 80 firms now operate under temporary CMB permits, though only licensed entities will survive regulatory tightening.
Focus on Security and Compliance
BankPozitif’s custody services prioritise security through Taurus-PROTECT’s hot, warm, and cold storage options. The bank aims to balance innovation with risk management as regulations evolve.
Kork stressed the importance of “business rules” during the rollout phase, ensuring alignment with AML protocols. Taurus’s infrastructure, already tested by European banks, offers a compliance-ready foundation.
Additionally, Taurus-EXPLORER will let clients interact seamlessly with blockchains, supporting tokenised assets and CBDCs. This positions BankPozitif to capitalise on Türkiye’s $30 trillion banking sector.
Future Growth in Digital Asset Banking
Industry leaders see Türkiye as a hotspot for crypto innovation. Brahimi cited “unprecedented opportunities” in fintech, driven by institutional interest and clear regulations.
BankPozitif’s move reflects a strategic bet on long-term crypto adoption. With 40% of Turks under 25 and high financial literacy, the bank anticipates sustained demand.
As global crypto firms eye Türkiye, partnerships like BankPozitif-Taurus could set new standards for security and scalability. For now, all eyes remain on regulators as they refine the rules of engagement.
