First Payment on Digital Turkish Lira Network Successfully Made
In the scope of the first-phase studies of the Digital Turkish Lira Project led by the Central Bank of the Republic of Türkiye (TCMB), the first payment transaction on the Digital Turkish Lira Network is successfully stated in the announcement dated 29 December 2022.
Digital money, which is expressed as internet-based currency in digital contexts, is becoming more widespread. In this context, TCMB established the Digital Turkish Lira Collaboration Platform on 15 September 2021 to come together with local technology companies in order to construct the Digital Turkish Lira. This platform has carried out tests on many subjects such as blockchain technology, the use of distributed structures in payment systems, integration with instant payment systems. We included the announcement regarding the Digital Turkish Lira Collaboration Platform in our TFP September 2021. You can reach this article here.
It is aimed that the Digital Turkish Lira Collaboration Platform will expand in 2023 with the participation of selected banks and financial technology companies, and move into the next phases with more comprehensive pilot tests. Moreover, in the Announcement it is stated that studies on the technological requirements, as well as the economic and legal framework of the Digital Turkish Lira will be prioritized in 2023.
You can find the TCMB announcement regarding the use of Digital Turkish Lira here.
The Turkish version of this article is available on