(Bloomberg) -- The head of Turkey’s biggest cryptocurrency exchange BtcTurk is stepping down after seven years at the helm, as the firm plans an expansion abroad.
Ozgur Guneri, will step down as chief executive officer while staying on as a board member, BtcTurk Chairman Kerem Tibuk, told Bloomberg by phone on Thursday. Tibuk, the firm’s founder, will serve as acting CEO while the exchange focuses on its expansion, he said.
Turkey is among the top markets for cryptocurrencies as popular interest surged amid a high-inflation environment and a collapsing local currency over the past few years. A number of former central bank officials have joined crypto exchanges, while President Recep Tayyip Erdogan appointed an academic focused on blockchain technology to the monetary authority’s rate-setting committee late last year.
‘Global Exchange’
“We will launch a global exchange, eyeing markets in Latin America, Africa and Asia-Pacific,” Tibuk said. With Bitcoin, the world’s biggest cryptocurrency, in what he called a bull market, prices are expected to be “higher than what they are today,” he added.
In a separate phone call, Guneri said he will focus on international cooperation and “global matters.” Guneri expects a “lively” final quarter and 2025 for cryptocurrencies worldwide.
Established in 2013, BtcTurk has about 6 million users in Turkey. Elliptik Software and Trade Inc., which manages BtcTurk, has been working on an equity trading platform, which is expected to launch at the end of the year.
BtcTurk was hit by a cyberattack in June, but announced it will compensate for the losses incurred by users. Tibuk and Guneri refused to specify what the losses were.
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