When Vancouver-based Aquanow was named digital innovator of the year by CrossTech at the 2022 Innovation Awards, chief executive officer Phil Sham pointed out how digital asset markets are now 24/7, upending the flows of traditional finance.
Which is exactly where he wants his company positioned.
Advancing this position, Aquanow last year launched a Digital Ventures Fund to support disruptive blockchain technologies, and in 2024 has been working with global cryptocurrency exchange Gate.io to “build global liquidity for the next wave of blockchain projects”—a collaboration that aims to bridge traditional and digital currency markets with an innovative solution.
And the ball keeps on rolling.
Aquanow, which ranks among the fastest growing companies in Canada, this month announced a strategic investment into the company.
Aquanow Türkiye, a regional subsidiary, has received investment from two of Turkey’s leading portfolio management companies, Oyak Portföy and Finberg, the fintech revealed recently.
The investment is the beginning of a strategic partnership focused on developing innovative digital asset solutions for the Turkish market and beyond, according to a statement from Aquanow.
“This strategic investment is a meaningful step towards creating greater access to digital asset products and services globally,” says Phil Sham, chief executive of Aquanow.
Oyak Portföy offers financial services to 300,000 customers, while Finberg is a subsidiary of Fibabanka, an institution focused on investing in financial technology opportunities.
“Oyak Portföy and Finberg are trusted financial institutions, and Aquanow looks forward to working collaboratively to offer innovative digital asset services that are compliant with emerging legal regulations in Turkey,” Sham said.
The investment and partnership positions Aquanow for growth with trusted partners in a region with strong demand for digital assets, according to Sham.
In 2023, Turkey ranked fourth worldwide in terms of crypto transaction volume—behind only the US, India, and UK—according to a report from Chainalysis.
Turkey’s high crypto volume is aided by increasing “clarity around crypto regulation,” Aquanow suggests, with regional regulatory authorities taking seriously crypto assets and blockchain technology in 2024.
Seeing “the potential of the Turkish market” spurred Sham and his team to establish a local subsidiary late last year, and moving forward Aquanow will now “remain in sync” with regulations as a new Turkish framework for crypto is established by authorities. The fintech thus intends to maintain all required compliance standards and become fully regulated in the region.
Aquanow was founded in 2018.
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