"Crypto asset custodians should have legal, operational, and technical expertise"

As the March 31, 2026 compliance deadline approaches for crypto asset trading platforms in Türkiye, Paribu Custody's webinar on February 26 focused on the core concepts of digital asset custody and the service models shaping the market. The session featured Paribu Legal Manager Aysu Düz and Paribu Custody Head of Institutional Sales and Business Development Cem Sağlam.

Aysu Düz outlined the legal framework for crypto asset custody in Türkiye. The discussion referred to Capital Markets Law No. 6362, MASAK regulations, the communiqués governing incorporation and operations, the rules on custody service providers, and TÜBİTAK's infrastructure criteria. Düz noted that TÜBİTAK Infrastructure Criteria and the Information Systems Communiqué should be considered together, as they define the technical, security, and operational requirements expected from custody institutions. She also highlighted the importance of capital requirements and noted that Paribu Kripto Varlık Saklama Kuruluşu A.Ş. has TRY 1.5 billion in paid-in capital.

Cem Sağlam explained that the legal framework defines two custody models: hybrid custody and full custody. In the hybrid model, at least 95% of customer assets are held by the custodian while up to 5% remains in the platform's hot wallets for daily operations. In the full custody model, the custody provider also delivers the cold, warm, and hot wallet infrastructure required to manage daily flows, removing the need for third-party wallet technology. He added that in this model, the custodian effectively takes on the role of an operator.

Sağlam also emphasized the importance of blockchain network coverage in custody provider selection. He stated that Paribu Custody supports more than 70 blockchains and over 1,000 tokens, enabling trading platforms to expand listings and build sustainable product strategies across new networks.

With the March 31, 2026 deadline drawing closer, Sağlam said questions around integration are increasing. He summarized the process as setting up wallet infrastructure after contracting, providing training and documentation, implementing TÜBİTAK-compliant request and approval flows, enabling API integration, and supporting regulatory compliance steps including ClearTX, Paribu Custody's open-source, local, and free Travel Rule solution.

The webinar concluded with key considerations for selecting a custody provider. Beyond paid-in capital, speakers highlighted the importance of board structure, being based in Türkiye, the ability to provide on-site support when needed, and having strong legal, operational, and technical expertise in blockchain. International certifications and independent audit reports were also noted as important indicators of security and reliability.