As the regulatory framework for the crypto asset market in Turkey becomes clearer, a significant timeline directly affecting crypto asset service providers (CASPs) has also been formalized. Accordingly, crypto asset service providers operating in Turkey must sign a contract with an authorized custodian and comply with the TÜBİTAK Information Systems and Technological Infrastructure Criteria by March 31st at the latest, in order to continue their operations uninterrupted. These contracts are also expected to be submitted to the Capital Markets Board (SPK). This step is seen as one of the most critical aspects of the new era, aiming to increase the security of user funds and reduce operational risks in the crypto asset market. The custody obligation mandates that both exchanges and other crypto service providers make their technical infrastructure compliant with stricter regulations. Thus, the aim is to bring companies operating in the crypto market in Turkey closer to international standards.
Ziraat Bank and TÜBİTAK partnership
A notable development immediately following this regulatory process was the comprehensive cooperation protocol signed between Ziraat Bank and TÜBİTAK. This protocol, implemented between the two institutions, aims to develop joint products and solutions in the field of advanced technologies, primarily in crypto asset custody infrastructure. The collaboration covers critical areas such as cybersecurity, big data, artificial intelligence, blockchain, digital asset technologies, and quantum computing. By combining Ziraat Bank's financial expertise with TÜBİTAK's research and technology development capacity, the goal is to enable Turkey to achieve a more secure and competitive position in the digital finance ecosystem. The planned studies, particularly focused on the development of domestic and national technologies, are expected to create a strategic R&D ecosystem in areas such as cryptography and financial infrastructure design. The first concrete step under the protocol was the signing of the contract for the Digital Asset Custody Infrastructure. With the project, which is planned to be carried out in phases, the goal is to implement a completely domestic, national, and compliant crypto asset custody infrastructure in Turkey. The aim is for the developed architecture to create a new standard that will serve as a national reference for the Turkish digital finance ecosystem. In addition to crypto asset custody solutions, joint R&D studies are planned to be initiated in a wide range of technologies, from cybersecurity and artificial intelligence to big data and quantum technologies. These studies are expected to pave the way for new technology-based products in both the financial and public sectors. Ziraat Bank General Manager Alpaslan Çakar emphasized that the signed protocol is a strategic step in terms of Turkey's financial technology capacity. Çakar stated that this collaboration with TÜBİTAK strengthens the goal of creating a national standard in blockchain-based digital asset custody infrastructure. He added that joint products to be developed in areas such as cybersecurity and artificial intelligence will make a significant contribution to Ziraat Finance Group's digital transformation vision. TÜBİTAK President Prof. Dr. Orhan Aydın evaluated this collaboration as a strong example of inter-institutional technological partnership. Aydın stated that, in line with the National Technology Initiative vision, developing a system that will ensure the secure storage of digital assets is a priority goal, and added that the project will pave the way for new studies in fields such as blockchain, artificial intelligence, and big data in the future.
