According to the Turkish president's program for 2023, Turkey intends to prepare everything for the launch of the digital lira.
According to the State Strategy and Budget Department, the project has been entrusted to the Central Bank, the Ministry of Finance and the Scientific and Technical Research Institute.
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The CBDC will be integrated with the regulator's digital identity and payment system FAST.
The Central Bank of Turkey will conduct research and development as well as testing in cooperation with other banks.
The CBDC will reportedly be based on blockchain technology.
Turkish Central Bank head Naci Ağbal announced back in December 2020 that testing of the digital lira would begin in the second half of 2021.