Turkish Lira Stablecoins Surpass Euro in Popularity, Reports Zodia Markets
Turkish lira stablecoins rank second after dollar, Zodia Markets says

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Zodia Markets reports that Turkish lira-pegged stablecoins have become the second most utilized stablecoins, following the US dollar. The firm processed $3.4 billion in lira stablecoin transactions, highlighting their appeal for faster and cheaper settlements compared to traditional banking methods.
- 01Turkish lira-pegged stablecoins ranked second among stablecoins used by clients at Zodia Markets in 2025.
- 02$110.5 billion in dollar-pegged stablecoin transactions were processed by Zodia Markets, compared to $3.4 billion for lira-pegged stablecoins.
- 03Lira stablecoins provide a more efficient alternative to traditional banking methods for transferring funds.
- 04Standard Chartered's Geoff Kendrick noted that demand for stablecoins is likely to grow in regions with weaker financial infrastructures.
- 05The stablecoin market is primarily led by Tether and Circle, with reported circulations of $188 billion and $76 billion respectively.
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According to Zodia Markets, a subsidiary of Standard Chartered, stablecoins pegged to the Turkish lira have emerged as the second most popular stablecoins among clients, following the US dollar. In a press event, co-founder and interim CEO Nick Philpott revealed that last year, Zodia processed $110.5 billion in dollar-pegged stablecoin transactions, while lira-pegged stablecoins accounted for $3.4 billion. This trend indicates a growing preference for lira stablecoins, which offer a faster, more reliable, and cost-effective alternative to traditional correspondent banking methods for transferring lira. Philpott emphasized that these stablecoins are liquidated immediately upon receipt. Standard Chartered's crypto analyst, Geoff Kendrick, noted that the demand for stablecoins is expected to increase in countries with weaker financial systems, highlighting the importance of stablecoins in enhancing financial accessibility. The stablecoin market is currently dominated by Tether, based in El Salvador, and US-based Circle. Additionally, a group of European banks is planning to introduce euro-pegged stablecoins, although they face skepticism from the European Central Bank.
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The rise of lira-pegged stablecoins can enhance financial transactions for Turkish users, providing a more efficient alternative to traditional banking.
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