Establishing a Stock or Cryptocurrency Trading Platform in Türkiye: Legal and Practical Requirements

Türkiye has become an increasingly attractive destination for fintech entrepreneurs, including those looking to establish stock trading or cryptocurrency exchange platforms. However, due to the sensitive nature of financial services and the potential for money laundering or fraud, companies operating in these sectors must adhere to strict regulatory and compliance obligations.

In this blog, we explore the fundamental legal and technical steps required to establish a borsa (stock exchange) or crypto trading platform in Türkiye, with a particular focus on KYC (Know Your Customer) procedures, API integrations, and partner information disclosures.

1. Understanding KYC: Know Your Customer Obligations

KYC (Know Your Customer) compliance is the cornerstone of any financial platform operating in Türkiye. Before a platform can allow users to trade stocks or crypto assets, it must verify their identity, background, and the legality of their funds.

KYC compliance in Türkiye generally includes:

• Collecting identification documents (passport, national ID)

• Address verification

• Source of funds declaration

• Sanction list and PEP (Politically Exposed Person) screening

For companies, it also includes obtaining:

• Criminal records of shareholders

• Apostilled trade registry documents (for foreign legal entities)

• Shareholder educational and professional qualification documents

2. API Key: Financial Integration with Banks and Exchanges

To enable actual trading functionality—whether in the traditional stock market or crypto space—platforms require an API key. In the Turkish context, this typically serves to:

• Integrate with banks to allow fund transfers

• Connect with Borsa İstanbul or other licensed brokers

• Enable real-time trading and settlement functionality

This technical integration must comply with Türkiye’s financial data protection laws and should be performed using secure, licensed APIs.

3. Shareholder and Partner Background Checks

Authorities in Türkiye require full transparency on the individuals and entities behind the platform. Key information includes:

• Criminal records of real person shareholders

• Apostilled documents for foreign corporate shareholders (proving corporate existence and legitimacy)

• Academic degrees or certificates relevant to the field (especially for compliance officers and directors)

These documents are essential during the licensing and registration phases.

4. Licensing and Legal Framework in Türkiye

At the time of writing, Türkiye does not have a separate law solely regulating cryptocurrency exchanges, but platforms offering crypto or fiat asset trading must comply with:

• The Turkish Commercial Code

• The Capital Markets Law (for securities platforms)

• MASAK (Financial Crimes Investigation Board) regulations for AML and KYC

• BDDK (Banking Regulation and Supervision Agency) regulations for payment service providers and e-money institutions

Licensing may be required depending on the business model (whether it includes fiat gateways, custody, or brokerage services).

5. Legal Consultancy: Why You Should Work with an Expert Law Firm

Due to the regulatory complexity and the high financial stakes involved, consulting an experienced legal team in Türkiye is highly recommended. At Bayraktar Attorneys, we offer:

• Legal structuring and incorporation services

• Compliance strategy tailored to Turkish financial laws

• Liaison with Borsa İstanbul, MASAK, and relevant ministries

• Preparation of KYC protocols, user agreements, and internal control mechanisms

Final Thoughts

Establishing a trading platform in Türkiye is not just about having the right technology—it’s about creating a legally sound, secure, and transparent environment. With increasing scrutiny from regulators, businesses must invest in strong compliance frameworks from day one.

If you're considering launching a borsa or crypto platform in Türkiye, contact us to schedule a consultation.