On November 28, 2023, CoinTR, a global cryptocurrency exchange headquartered in Istanbul, announced a strategic partnership with the leading blockchain EOS Network. The two parties CoinTR and EOS Labs, will collaborate to establish the Turkish Web3 Industry Lab, dedicated to injecting new vitality into the Turkish blockchain ecosystem. The initiative aims to leverage blockchain technology to support technological transformation and industrial upgrades in Turkey.
The partnership will focus on supporting and incubating local blockchain projects in Turkey, assisting them in achieving innovation in the blockchain field. Support for these blockchain startups will include funding, public chain product technology, and guidance from professional mentors. This collaboration seeks to attract more developers and builders to join the EOS blockchain network while aiding high-quality projects in their listings. In terms of technology, CoinTR will support EOS mainnet and EOS EVM, providing a better experience for users in Turkey and the global EOS community. On the global market promotion and marketing front, the collaboration will deepen cooperation with key opinion leaders (KOLs), media, and investment institutions to promote the development of Turkey’s web3 industry.
Ali Eşelioğlu, CEO of CoinTR, stated, “Through this laboratory project, we have found an opportunity to contribute to Turkey’s growth in the cryptocurrency field and gain an advantage in global competition. This collaboration aims to increase innovation in the blockchain and cryptocurrency sectors by hosting leading projects.”
Huaqiang Wen, CEO of EOS Labs, also shared his perspective for the partnership, “Our collaboration with CoinTR is a crucial move in establishing Turkey as a global Web3 hub. This partnership goes beyond mere cooperation; it’s a catalyst for transformative change and progress in the dynamic world of blockchain, not just in Turkey but on a global scale.”
Zack Gall, Co-Founder and CCO of EOS Network Foundation emphasized the importance of the Turkish blockchain ecosystem, stating, “With its dynamic economy, forward-looking regulatory attitude, and interest in the crypto space, Turkey is rapidly becoming a significant player in the digital asset field. This collaboration with CoinTR is a crucial step in nurturing and developing the Web3 ecosystem in this vibrant market.”
It is understood that the first batch of projects supported by the Turkish Web3 Industry Laboratory includes EZ Swap, a decentralized game asset exchange based on community NFT AMM; Zeepr, a perpetual contract DEX based on coin-centric oracle; Bitbrawl, a battle royale game based on famous NFT IP; UBox, an NFT market based on pan-entertainment concept; The Wake, an MMORPG featuring Nordic mythology, and Noah Finance, a new generation of DeFi platform on EOS EVM. Among them, high-quality projects that pass the review will be launched on CoinTR for the first time.
As the fourth-largest cryptocurrency market globally, Turkey has over 10 million active cryptocurrency users, representing immense market potential. Compared to the previous year, the trading volume in the Turkish cryptocurrency market increased by 1500% in 2021. According to data from CryptoCompare, Bitcoin trading in Turkey grew by 900% last year.
CoinTR, as a global digital asset exchange based in Turkey, has a leadership team composed of five high-ranking officials from institutions such as the Central Bank of Turkey, the Ministry of Treasury and Finance of Turkey, and the Banking Regulation and Supervision Agency of Turkey. The team also includes a globally top-notch product technology and wallet technology security team co-founded by David Liu, Vice President of the Huobi Group. Ninety percent of the team members come from the top three global exchanges, and 80% of the business team has over four years of industry experience. On the compliance front, CoinTR has obtained registration approval from the Financial Crimes Investigation Board of Turkey (MASAK) and has collaborated with two state-owned banks in Turkey, Zirrat Bank and Vakif Bank, to open fiat onramp and offramp channels. In the 2023 compliance annual review in Turkey, CoinTR is one of the few fully compliant exchanges that meet regulatory requirements comprehensively.
EOS Network, as one of the world’s most competitive public chains, possesses high-performance infrastructure. The addition and continuous improvement of EOS EVM enhance the user experience for developers and users. Yves La Rose, CEO of EOS Foundation, previously stated on social media that EOS’s EVM is the most powerful EVM to date, with performance 25 times that of Avax and three times that of Solana, while maintaining Ethereum-level security and reliability.
The strong collaboration between CoinTR and EOS Network to establish the Turkish Web3 Industry Lab aims to jointly promote the development of the Turkish blockchain ecosystem. The initiative seeks to help more outstanding blockchain startups complete their cold start and become significant participants in the global Web3 industry.
