In December 2024, EU MiCA (Markets in Crypto-Assets Regulation) entered into full force. In June 2026, PSD3 and the Payment Services Regulation become reality — the successor to PSD2. Both regulations affect Turkish companies doing cross-border business, directly or indirectly.
This article breaks down what MiCA + PSD3 mean in concrete terms for finance software and Turkish companies.
What happened? MiCA and PSD3 at a glance
MiCA — a single standard for crypto
Until now, every EU member state regulated crypto differently. MiCA collapses that patchwork into a single standard:
- Crypto-asset issuers must be registered
- Stablecoin issuance is subject to reserve controls
- Service providers (exchanges, wallets) must be licensed
- Customer protection and disclosure are mandatory
Impact on Türkiye: the SPK (Turkish Capital Markets Board) crypto regulatory framework was updated in 2024-2025, with MiCA used as the reference model. Turkish platforms such as BTCTurk, Paribu, and Btckonomi now operate under a MiCA-like supervisory framework.
PSD3 — the evolution of open banking
PSD2 (2018) required banks to open their APIs. PSD3 (2026) requires those APIs to meet a quality bar:
- API uptime of 99.5%+
- Control mechanisms for customer data sharing
- Expanded payment initiation (PISP)
- Stronger consumer protection
Impact on Türkiye: the BDDK (Turkish banking regulator) Open Banking framework was published in 2024 and is evolving in parallel with PSD3.
Both regulations are built around standards. Standards mean easier integration. As long as Turkish software stays compliant with these standards, it can enter the EU market.
Which Turkish companies are affected?
Three groups:
Group 1: e-commerce selling into the EU
Trendyol EU, Hepsiburada EU, niche e-commerce players. If you collect payments from EU customers, PSD3 applies to you directly — your payment infrastructure must be PSD3-compliant.
Group 2: Turkish companies with EU offices
Software companies such as Logo, Mikro, and Paraşüt that have opened EU offices must operate in compliance with MiCA + PSD3.
Group 3: Turkish companies working with crypto and DeFi
Platforms like BTCTurk and Paribu are supervised by the SPK in Türkiye; entering the EU market requires MiCA compliance.
What does this mean for finance software?
Three architectural shifts:
1. Multi-standard integration
Your finance software no longer connects to a single API — it works across multiple standards:
- TR: BDDK Open Banking
- EU: PSD3 (PSR)
- US: FedNow + the Open Banking initiative
- UK: Open Banking UK
The iFinances three-way reconciliation model was designed for exactly this kind of multi-standard integration.
2. Data portability
A customer can say, "I'm switching banks — move my historical data to the new bank too." That means finance software has to deliver data portability.
3. Audit-ready architecture
Every PSD3 + MiCA transaction must be auditable. An audit-ready reconciliation infrastructure is how you prepare for that scrutiny.
5 practical steps for Turkish finance teams
1. Find out whether you have an EU customer segment
Do 5%+ of your customers come from the EU? If so, PSD3 affects you directly.
2. Ask your payment infrastructure about PSD2/PSD3 compliance
Is your provider — iyzico, Paratika, Stripe — PSD3-compliant? Request an official answer.
3. Measure your bank's API quality
Are your bank's PSD3-parallel APIs actually usable? For more, see our article on the Digital Turkish Lira.
4. Assess your crypto/stablecoin position
Does your company hold crypto on its balance sheet? How is the Turkish SPK framework tracking MiCA?
5. Build cross-border reconciliation infrastructure
If you transact in more than one currency, read our article on reconciliation with the official rate of the CBRT (Central Bank of Türkiye).
Conclusion
MiCA + PSD3 are standardizing the EU's financial software landscape. Turkish companies either adapt to these standards or drift out of the EU market. The software layer — iFinances included — is the technical backbone of that compliance.
One post a month.
Get new insights straight to your inbox. No spam, just well-crafted reads.
