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Turkey's Borsa Istanbul Stock Exchange (BIST) has developed a blockchain-powered customer database, Daily Sabah reported September 6.

Founded in 2013, BIST is the result of the merger of the Istanbul Stock Exchange, the Istanbul Gold Exchange, and the Turkish Derivatives Exchange (TurkDex). Per the exchange’s annual report for 2017, it has 399 listed companies, a market capitalization of around $133 billion, and $1 trillion of total traded value.

The recent development will synchronize the customer databases of Borsa Istanbul, Istanbul Clearing, Settlement and Custody Bank (Takasbank), and the Central Securities Depository of Turkey (MKK).

The new platform, which is “designed under the Know Your Customer concept (KYC),” will manage the addition of new customers, manage documents, and edit information. "If required, the application can be used in other projects too," BIST reportedly said.

Read more here: https://cointelegraph.com/news/turkish-exchange-develops-blockchain-based-customer-database