Digest 9 | December 2023

What companies are telling us

• Insha Ventures, founded by Albaraka Türk, has established a new investment fund worth more than 100 million Turkish Liras.
• Igor, a green fintech startup that offers banking and payment infrastructure services, calculates carbon footprint, and seeks to produce solutions to neutralize it, received $8.5 million.
• Papara has added platinum and silver as available precious metals to the service, which allows you to invest in gold around the clock.
• The Foreign Economic Relations Board (DEIK) has set up a committee on blockchain and Web3 to tailor work on the technology.

New product launches and startups

VakifBank has launched the VakifPayS payment service, which has received authorization to provide payment services and issue electronic money. VakifPayS will offer its products and services to digital individual customers as well as commercial customers and aims to provide efficient, reliable, and quality service to both Turkey and the global market. Also, VakifPayS plans to contribute to the goal of transitioning to a cashless society in Turkey.

Mona Digital provides AI solutions for analyzing and trading on the stock market: market analysis, portfolio management, suggestions and recommendations, and so on. The company's products have about 30,000 users.

Market analytics

Binance has released a report on the outlook for cryptocurrencies. According to it, 2/5 Turks own crypto assets. Over the past three years, the share of those who have some involvement with crypto assets has increased from about 16% to 40%.

Also, cryptocurrencies, according to the Turks, are the preferred investment instrument after the Turkish lira. The strongest arguments in favor of investing in cryptocurrencies are the profit potential, as well as the ease of portfolio monitoring and interest in the technology.

red_mad_robot MENA is a digital partner for major businesses in the fields of fintech, telecom, retail, insurance, e-commerce, medicine, and industry. The expertise of red_mad_robot covers the entire cycle of creating digital products: from conducting market research and consulting to direct development and launch on the market. The company creates marketplaces, ecosystems, mobile applications, and web portals for millions of people, as well as supports technological startups.

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