Midas

Midas is a Turkish retail investment platform that consolidates access to multiple asset classes — domestic equities, US stocks, mutual funds, commodities, and cryptocurrencies — into a single mobile application. Operating as Midas Menkul Değerler A.Ş., the company holds a license from the Capital Markets Board of Turkey (SPK), the country's primary financial regulator. Since launching in 2020, Midas has grown to serve more than 3.5 million customers in Turkey and has established itself as one of the fastest-growing retail brokerages in the MENA region.

What Midas Is

Midas positions itself as an accessibility-first investment app: users can register within minutes using a Turkish national ID card, transfer funds from any bank in Turkish lira or dollars without commission, and begin investing immediately. The platform supports a wide range of asset classes through a single interface, aiming to lower the barrier to entry for Turkish retail investors in a market where brokerage account penetration remains well below Western norms. As of 2025, roughly 10 million Turks held brokerage accounts — under 12% of adults — compared to more than 50% in the United States, a gap Midas is explicitly targeting.

The company is headquartered in Istanbul and led by CEO Egem Eraslan. It has raised more than $140 million across three funding rounds: an $11 million seed round in February 2022 led by Spark Capital, a $45 million Series A in April 2024 led by Portage, and an $80 million Series B in August 2025 led by QED Investors, which also included the International Finance Corporation as a new investor. The Series B round valued the company at approximately $1 billion.

How It Works

The Midas mobile app is available on iOS and Android. After registration and identity verification, users fund their account via bank transfer in Turkish lira or US dollars, with no transfer fees. From there, they can place trades across all supported asset classes from the same interface.

Midas built its own vertically integrated clearing infrastructure rather than relying on third-party intermediaries. This gives the company control over settlement speed and product rollout timelines. A notable consequence is instant settlement for Turkish equity sales: proceeds from BIST stock sales are immediately available as cash without waiting for the standard clearing cycle.

A desktop workspace called Midas Pro is available for more active traders, offering advanced charting and order management tools. The mobile app also includes stock screeners with financial ratios, technical analysis indicators, and AI-generated company summaries. A news aggregation feature called "Midas's Ears" pulls relevant company news into each stock's page.

Supported Assets

Midas covers a broad range of investable assets:

• Turkish equities (BIST): Zero commission, no account fees, no clearing or custody charges. Includes all major BIST-listed companies such as Turk Hava Yollari, Turkcell, and BIM.
• US stocks and ETFs: Trades are charged at $1.50 per transaction. Covers major US-listed companies including Apple, Tesla, and Google.
• European stocks: Includes companies such as Siemens and BMW.
• Mutual funds (TEFAS): Access to Turkish collective investment schemes.
• Commodities: Gold certificates, silver, and Brent crude oil.
• Warrants and derivatives: VIOP (Turkish derivatives exchange) and structured products.
• Cryptocurrencies: Access to more than 300 crypto assets, including Bitcoin, Ethereum, Solana, Dogecoin, Render, Arbitrum, NEAR Protocol, and a range of altcoins.

Crypto trading fees use a tiered structure based on monthly volume: 0.15% for volumes up to 10 million TL, 0.12% for 10–100 million TL, and 0.10% above 100 million TL.

Solana Integration: Blockless Staking

Midas's most direct connection to the Solana ecosystem is its blockless staking feature. Users who hold Solana (SOL) in their Midas account can opt into staking to earn an annual yield of approximately 6%. The defining characteristic of Midas's staking implementation is that staked assets are not locked: users can sell their staked SOL at any time without waiting for an unbonding period. Staking rewards are credited daily.

The same blockless model applies to Ethereum, which earns approximately 2% annually, and to USDT. Midas handles staking through its own infrastructure rather than asking users to interact directly with validators or on-chain protocols, keeping the experience within the familiar brokerage interface.

This approach makes Midas one of the few regulated brokerage apps where Turkish retail investors can earn Solana staking rewards without self-custody, wallet management, or direct interaction with on-chain infrastructure.

DeFi Discovery

The Midas Kripto section includes a DeFi discovery feature that surfaces early-stage crypto projects before they are listed on major exchanges. The feature is positioned as a way for users to identify emerging opportunities before they gain wide market attention. Specific details about the curation methodology or partner protocols are not publicly documented.

Regulatory and Security Status

Midas Menkul Değerler A.Ş. is a regulated brokerage holding a license from the Capital Markets Board of Turkey (SPK), which establishes capital adequacy, client asset segregation, and operational compliance requirements. The company's vertically integrated infrastructure means it is directly responsible for clearing and custody operations rather than delegating these to a third party.

No independent smart contract audits are publicly documented for the Midas crypto staking product, consistent with its positioning as a custodial brokerage service rather than a non-custodial DeFi protocol. Users hold assets within the Midas brokerage account, with Midas managing the underlying staking operations.

Ecosystem Fit

Midas operates as an on-ramp for Solana exposure within the Turkish retail market, offering SOL trading and staking through a regulated, fully custodial environment. It does not interact with Solana's on-chain DeFi ecosystem in the way that native dApps do — there are no Solana programs associated with the project, no SPL tokens issued, and no direct integration with Solana DEXes or lending protocols.

Its significance for the Solana ecosystem lies in distribution: by packaging SOL staking inside a familiar brokerage interface with no lock-up periods and daily reward accrual, Midas removes the technical friction that typically prevents retail investors from participating in Solana's proof-of-stake consensus. With 3.5 million customers in Turkey and aggressive growth targets in the broader MENA region, Midas represents a meaningful source of retail demand for SOL holdings and staking activity.