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Ripple executive says the company is "extremely optimistic" about the Turkish market
Ripple considers Turkey a key growth market, with Reece Merrick, Managing Director for the Middle East and Africa, stating that the company is “extremely optimistic” about the Turkish market. He highlighted Turkey’s leading cryptocurrency adoption rate in the Middle East and North Africa region, citing data that approximately 25.6% of the Turkish population owns cryptocurrencies, with the adoption rate among adults aged 18 to 60 reaching as high as 52%. Merrick pointed out that driven by inflation hedging and practical needs, Turkey’s annual cryptocurrency trading volume is expected to approach $200 billion by 2025. He also emphasized Ripple’s stablecoin RLUSD as a stable alternative to the US dollar for cross-border payments amid the Turkish lira’s volatility, confirming that the company is working with local financial institutions on integration.