According to what was said by SourceThe leading US cryptocurrency exchange Coinbase has put Turkish cryptocurrency exchange BtcTurk on its radar, and plans to buy it for nearly $3.2 billion.

As Turkish media reported, Coinbase may soon acquire BtcTurk in a deal worth more than $3 billion.

Sources close to the matter revealed that the American company, Coinbase, will use shares and cash to complete the purchase.

According to other coverage, the initial price for the deal was $5 billion.

However, due to the devaluation of the Turkish lira and the recent decline of Bitcoin, the two parties shook hands on a $3.2 billion agreement.

Coinbase raised its hopes that it could expand its global presence and serve millions of new customers upon completion of the acquisition.

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Turkey’s strategic location in both Europe and Asia can be a useful factor in achieving this goal.

BtcTurk is the first cryptocurrency exchange in Turkey.

Founded in 2013, the platform has more than 4 million users and recorded $200 million in trading volume in the last 24 hours.

By comparison, the country’s largest digital asset platform, Paribu, handled nearly $20 million less.

For its part, Coinbase, which has about 90 million users, is one of the largest cryptocurrency exchanges in the world.

Coinbase, also listed on Nasdaq, generated more than $3.5 billion in net income in 2021 (11 times more than the 2020 numbers).

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Earlier this year, Coinbase revealed its intention to acquire Brazil-based 2TM crypto company.

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