Turkey’s Central Bank to Complete Trials of National Currency This Year

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The Turkish authorities expect to complete the trials of its CBDC by the end of the year. As reported by the institution, it has already successfully implemented the first test transactions with the currency.

According to the statement, the digital lira will be used in the domestic market as a means of payment.

The Central Bank of Turkey announced on October last year the creation of a token and did not rule out that such a tool could appear in the regular mode within the next year.

The regulator plans to test the digital lira in Q1 2023 when paying for goods and services.

In addition, the currency testing will be carried out with the gradual involvement of all market participants in this process.

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