Turkey Completes First Round of its CBDC Trials
The Central Bank of Turkey has just announced that it has completed the first testing round of the country’s national digital currency.
The regulator claims to have successfully completed “the first payment transactions” using the digital lira. The central bank has 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 bank has said that the results of the trials will be presented in a report.
The then head of the Central Bank of Turkey, Naci Ağbal, announced in December 2020 the testing of the digital lira in the second half of 2021.
Later it became known the project was entrusted to the regulator, the Ministry of Finance and the Scientific and Technical Research Institute.
