High-profile crypto exchange from America Coinbase is reportedly having plans down its pipeline to complete the acquisition of BtcTurk for $3.2 billion.

Specifically, the negotiation taking place between the two exchange platforms reportedly settled at approximately $3.2 billion, taking into account the market behavior of the Turkish lira and Bitcoin (BTC) for price adjustments. 

One or both of the two establishments have reportedly already put their signature on a term sheet.

The potential purchase would reportedly be a development from the announcement issued by its Head, Brian Armstrong, regarding the plan for expansion to cover every nation, where the firm has obtained greenlights to function normally. 

Coinbase was reportedly gearing towards completing the acquisition of 2TM – the parent firm of Latin America-based crypto brokerage firm Mercado Bitcoin.

The US company is reportedly also on the search for a new country director to take charge of its operations in Turkey. As detailed in the job posting, part of the director’s responsibilities include fast-tracking the exchange’s “strategic partnerships” in the local market.

Established in 2013, BtcTurk is reportedly among the most major and longest-running crypto exchange platforms in Turkey, sharing the market with its competitor Paribu and others. 

Per insights generated by CoinMarketCaps, the company has reportedly managed to reel in over $196 million in trading volume during the past 24 hours.