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Digital asset popularity hits 99% in Turkey: report

Author: Content Editor
A survey conducted by Paribu exchange reveals that 99% of Turkish investors are now familiar with digital assets, a significant increase compared to 16% in 2020. Digital assets have become the third-most favored investment in Turkey, surpassing real estate. This trend of digital assets replacing stocks and mutual funds is also seen in other nations, including Indonesia and the US. Turkish investors are motivated by the high return potential and the belief that digital assets will see increased use in the future. The survey also highlights that a robust security system is the primary demand of Turkish investors from their trading platforms. Despite concerns over security, Turkish investors still prefer local exchanges. Turkey is currently the largest digital asset market in the Middle East and North Africa region.

In Kazakhstan, the central bank has launched a pilot leveraging the programmability of the country's CBDC to reduce the time it takes for businesses to get VAT reimbursements by up to 80%. The pilot, launched in partnership with the State Revenue Committee, automatically marks VAT in B2B transactions using the digital tenge, eliminating the need for manual checks and streamlining the reimbursement process. The National Bank of Kazakhstan aims to continue improving the process to achieve instant reimbursement in the future. The digital tenge was introduced in November 2020 and is seen as a tool for introducing accountability and transparency to the government. The programmability of the CBDC allows for its use in various government processes and financial operations.

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