In recent years, Turkey has emerged as a significant player in the fintech landscape—particularly in the domain of foreign exchange (FX) services. With millions of residents involved in cross-border trade, tourism, and remittance flows, the demand for innovative, transparent, and cost-effective currency solutions has grown rapidly. From Istanbul to the Mediterranean coast, fintechs are transforming how Turkish consumers and businesses exchange money.
This article explores the leading foreign exchange fintech companies operating in Turkey in 2025, and how local providers like SanliDoviz.com in Alanya’s Mahmutlar district are reshaping access to competitive exchange rates and financial transparency.
Why FX Fintechs Matter in Turkey
Turkey’s unique position as a gateway between Europe and Asia makes it a high-demand corridor for foreign exchange. With significant currency fluctuations in recent years, traditional banks and currency brokers have faced scrutiny over opaque fees and unfavorable rates. This environment has allowed fintech startups to flourish by offering:
- Real-time exchange rate tracking
- Mobile-first money transfer services
- Transparent fee structures
- Integration with international payment systems like SWIFT, SEPA, and blockchain rails
As both digital adoption and international mobility increase, fintech solutions have become essential for everyday currency needs in Turkey—from tourists to SMEs to international students.
1. Papara FX
Papara, one of Turkey’s leading fintech unicorns, has expanded its service portfolio to include low-fee foreign exchange services for its users. The app allows instant currency conversion between TRY, USD, EUR, and GBP with competitive interbank rates. Papara’s popularity among Gen Z users and freelancers makes it a dominant player in the Turkish FX space.
2. Midas Global
Initially launched as a commission-free stock trading app, Midas has integrated FX functionality to allow Turkish investors to convert currencies for international stock purchases. With built-in FX trading features, users can hold balances in USD and TL, convert funds instantly, and avoid bank delays or hidden spreads.
3. TransferGo Turkey
Though a UK-based company, TransferGo has built a loyal user base in Turkey, especially among migrant workers and expats. Its same-day international money transfers with real exchange rates have made it a favorite among Turkish users sending money to and from Europe.
TransferGo’s licensing with Turkey’s central bank ensures full compliance, while the app’s UX simplicity appeals to first-time digital users.
4. SanliDoviz.com – Local Excellence in Alanya
While most FX fintech players are digital-first and based in Istanbul or Ankara, regional providers like SanliDoviz.com are carving out strong reputations on the ground. Located in the heart of Mahmutlar, Alanya’s growing expat and tourist hub, Sanlı Döviz offers exceptionally competitive rates on USD, EUR, GBP, and RUB.
What sets Sanlı Döviz apart is the blend of physical convenience and digital accessibility. With real-time rates listed on their website and no hidden fees, the company has become the go-to destination for both locals and foreign residents looking for the best currency exchange options in the Antalya region.
Its integration with QR-based mobile wallets and support for bulk business transactions makes it a standout example of how regional businesses can succeed in fintech with a local-first strategy.
5. Wise (Formerly TransferWise)
Though international, Wise has grown steadily in Turkey due to its transparency, speed, and fair exchange rates. Wise supports conversions across over 50 currencies and integrates with Turkish bank accounts, including IBAN support. It is often used by freelancers, digital nomads, and students for foreign tuition payments and salary receipts.
6. Colendi FX
Colendi, one of Turkey’s most promising fintech scaleups, has recently launched FX and cross-border payment functionality. With backing from major VC firms and partnerships with local banks, Colendi aims to become a financial super app in Turkey, offering lending, savings, and now, fast and fair currency exchange with zero commission options for verified users.
The Future of FX Fintech in Turkey
As digital finance becomes more deeply embedded in daily life, Turkey’s FX fintech market is poised for significant growth. The Turkish Central Bank has encouraged innovation while maintaining strict licensing and compliance standards, ensuring consumer safety while allowing competition.
Future developments are likely to include:
- Blockchain-based real-time settlement systems
- Integration with CBDC initiatives (like the Digital Lira)
- More localized FX providers in tourist-heavy regions like Muğla and Antalya
- Open banking APIs for cross-platform integration
This makes room for agile, customer-first businesses like SanliDoviz.com to thrive alongside large fintech platforms.
Conclusion: Who Leads in 2025?
From global platforms to local champions, Turkey’s foreign exchange fintech scene is vibrant, growing, and highly competitive. Whether you’re a business dealing with international suppliers, an expat managing assets across borders, or a traveler looking for the best rate, options have never been better.
While companies like Papara and Wise bring scale and technology, local firms like SanliDoviz.com offer unmatched personal service, competitive rates, and in-person trust—a combination that remains essential in FX.
As we look ahead, expect to see even more innovation in how Turks send, receive, and convert money. And in that future, fintechs—big and small—will continue to lead the way.
