Turkey to Continue Digital Lira Pilot in 2023
Main page News, Turkey, CBDC

Turkey's central bank, the Central Bank of the Republic of Türkiye (CBRT), revealed in a press release it has successfully carried out the first transactions with the digital lira.

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The central bank said it would continue closed-circuit pilot tests with "technology stakeholders" in Q1, 2023. The regulator added:

"In 2023, the CBRT will expand the Digital Turkish Lira Collaboration Platform to involve selected banks and financial technology companies, and will unveil advanced phases of the pilot study that will further widen the participation."

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In the meantime, the central bank will continue to run tests for "authentic architectural setups" focusing on distributed ledger technologies in payment systems.

In October, Turkey included the digital lira project into the Turkish president's program for 2023. 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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