Turkey is Developing a National Digital Currency
Main page News, Turkey, Cryptocurrency
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Nov. 5, 2019

Resmi Gazete, the country's official journal that publishes new laws and official announcements, has just reported Turkey is developing a national digital currency based on blockchain tech.

According to the document, which was made yesterday, the first tests of the new digital lyre will be conducted at the end of 2020.

The country's authorities have reportedly taken the decision to release their own digital currency in order to strengthen the country's economy.

The document states that "the main objective is to establish a financial sector with a strong institutional structure that can respond to the financing needs of the real sector at a low cost, offer different financial instruments to a wide investor base through reliable institutions and support Istanbul's goal of becoming an attractive global financial center."

In August iHodl reported that China plans to issue its own national digital currency, while last week an association of over 200 German banks claimed for the creation of a digital euro.

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