Second-Largest Private Bank in Turkey Now Supports XRP

Garanti BBVA, the second-largest private bank in Turkey, has expanded its crypto mobile app offering to include XRP.

The prominent Turkish bank disclosed this move in a recent notification accessible via its official website, noting it now provides services for XRP. XRP community figure WrathofKahneman drew public attention to the development in a Wednesday post on X.

XRP Live on Turkey’s Top Private Bank

In the announcement, Garanti BBVA mentioned its ongoing effort to integrate new cryptocurrencies into its mobile app. Now, it includes XRP, which the Turkish bank described as a crypto asset with one of the largest markets.

Notably, in this latest round of integration, the bank also disclosed the addition of Arbitrum (ARB), one of the top 50 crypto assets in the market. Following this latest move, XRP and ARB join existing supported crypto assets like Ethereum (ETH), Bitcoin (BTC), Avalanche (AVAX), Chiliz (CHZ), and USD Coin (USDC), a stablecoin.

This latest move by Garanti BBVA follows a previous announcement in which the bank hinted at plans to expand its asset offerings after a thorough monthly security review. In the announcement about XRP, Korcan Abali, General Manager of Garanti BBVA Digital Assets, revealed that adding XRP to the mobile app was driven by customer feedback.

Furthermore, Abali noted that interest in crypto asset custody and trading among customers is growing. He emphasized the bank’s commitment to supporting customers throughout their crypto journey with robust security, excellent customer service, and cutting-edge technology.

It is worth mentioning that Garanti BBVA is recognized as a crypto asset service provider following recent changes to the Capital Markets Law.

As one of Turkey’s most prominent private banks, Garanti BBVA boasts consolidated assets of approximately $76 billion. The bank operates across various banking segments, including corporate, SME, commercial, payment systems, private, and investment banking. Its diverse portfolio also encompasses subsidiaries specializing in pension and life insurance.

Garanti BBVA’s decision to incorporate XRP into its mobile app has generated bullish reactions from enthusiasts. Many view it as a significant step toward mainstream adoption of XRP by major banks.

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