Central Bank prepares to launch digital Turkish Lira currency
Turkey's Central Bank announced on Sep. 15 that it had launched a "Digital Turkish Lira Cooperation Platform" to expand its research into the potential benefits of a digital currency. The Central Bank will release results from the first phase of the trial run for the new practice in 2022.
Duvar English
Turkey's Central Bank launched a "Digital Turkish Lira Cooperation Platform" to help facilitate the establishment of a digital currency, the office announced on Sep. 15.
It said no final decision has been made about a digital Turkish Lira currency and that the results of the first phase of the pilot study will be announced in 2022.
The top financial authority wants to expand its current infrastructure for payment methods, the official statement said, adding that it has included digital partners in the work being done for the new practice.
The Central Bank inked deals with arms manufacturer ASELSAN, software company HAVELSAN and the Informatics and Information Security Research Center of the Scientific and Technological Research Council of Turkey (TÜBİTAK) which will carry out the research.
The first phase of the pilot study will asses the digital currency's sufficiency in economic, legal and financial requirements, the Central Bank added.