TDeFi is happy to announce that it has incubated Bitay Teknologi AS in its acceleration program. Bitay is an Istanbul-based Turkish crypto exchange with over $500 million in daily volume. The exchange is one of the visionary crypto exchanges that prioritize its users by implementing accessible, efficient and seamless solutions geared towards real-world adoption. Bitay is the first cryptocurrency exchange in our incubation drive. The exchange will receive various industry-leading services such as advisory, growth hacking, early-stage investment, development and more at TDeFi.
Founded in 2018 with an R&D grant from the Turkish state, Bitay opened for operation in 2019 and boasts over half a million registered users. Bitay employs the following features for ease of use:
Modular ID verification system: Bitay uses a GDPR compliant, modular ID verification system via eGov API that reduces KYC from days to less than 5 minutes.
Self-learning AI chatbots: Bitay is testing a self-learning AI chatbot that connects to self-service functionality as the top solution layer reducing the need for human support
Smart Marketing: Bitay has the lowest customer acquisition cost (CAC) due to its innovative fee structure, periodic paper trading competitions, performance marketing, referral programs, etc.
Bitay shall also implement Margin Trading & Lending, Staking & Fixed Saving Products in the future enabling its users to earn interest and participate in leading crypto services.
Bitay’s native token, the BTY token is a deflationary asset based on Ethereum’s ERC20 standard that is capped at a total supply of 100M BTY. The token shall power Bitay’s ecosystem and be used to avail trading discounts, collateral for margin trading, governance, redemption at retail partners, Mining rebates and more.
The geographical location offers an upper edge to Bitay since the MENA region is at the height of crypto adoption. The entry of major exchanges such as Binance and Bitpanda testifies the above statement respective to the strength of adoption in the region. The exchange has already struck partnerships with well-established names such as VISA, Fibabanka, Unicef, O1ex, papara and more. Bitay envisions a seamless exchange by enabling USD and Fiat deposits & withdrawals in the near future. TDeFi is certain about the exchange’s swift growth given its sustainable plans and customer-centric approach.
Startups are thoroughly vetted and go through diligent regulatory scrutiny under the TDeFi acceleration and mentorship program. Our objective lies in helping the end-investor and user to seek returns in a valuable startup rather than finding value in vague and underdeveloped projects. Moreover, TDeFi is equally committed to helping startups gain traction among a substantial user base, investors, and the community overall. TDeFi flaunts 15+ DeFi and NFT projects that comprise SingularityDao, DeFi11, VulcanForged, Drife, xBTC, OroPocket, BTCProxy and many more. By advising and mentoring these startups, we intend to establish a world of sustainable and high-performance ecosystems driven by decentralization at the heart.