Bank of Turkey completes first stage of CBDC testing


The Central Bank of Turkey announced the completion of the first phase of testing the national digital currency (CBDC).

According to the statement, the regulator has successfully completed “the first payment transactions” using the digital lira. The Central Bank noted that they will continue pilot tests with stakeholders in the first quarter of 2023, after which they will expand them to individual banks and companies.

The test results will be presented in a report.

In December 2020, the then head of the Central Bank of Turkey, Naji Agbal, announced the testing of the digital lira in the second half of 2021.

Later it became known that the project was entrusted to the regulator, the Ministry of Finance and the Scientific and Technical Research Institute.

Recall that in December 2022, the Central Bank of Brazil announced the release of a digital real in 2024.

In the same month, the Indian authorities revealed the details of the CBDC testing, which involves eight credit institutions.

Read CryptoNewsHerald bitcoin news in our Telegram – Cryptocurrency news, courses and analytics.

Found a mistake in the text? Select it and press CTRL+ENTER

Comments (No)

Leave a Reply