CBRT Established Collaboration Platform for Digital Lira

The Central Bank of the Republic of Turkey (CBRT) announced that it has established a cooperation platform for the R&D project of the digital Turkish lira with the participation of ASELSAN, HAVELSAN and TÜBİTAK-BİLGEM.

  • CBRT, ASELSAN, HAVELSAN and TÜBİTAK-BİLGEM digital Turkish lira network It will perform narrow-scope and closed-circuit pilot application tests.

  • In line with the results obtained within the scope of the first phase pilot studies, more widespread and broad participation pilot tests will be conducted.

  • The Central Bank of the Republic of Turkey, in the light of the findings to be obtained as a result of the first phase implementations. To the Digital Turkish Lira Cooperation Platform stated that new participants can be added

  • Within the scope of the R&D project, it is planned to conduct tests on various topics such as blockchain technology, the use of distributed structures in payment systems, integration with instant payment systems.

  • According to the Bank for International Settlements, approximately 60% of central banks worldwide are conducting concept studies on digital currencies, and 14% are advancing their pilot studies.

  • “Whether the existing technologies meet the economic, legal and financial requirements regarding the digital Turkish lira” The CBRT, who wants to see the digital central bank money, made a final decision on whether to put it into circulation not.

  • The results of the first phase studies for the digital lira will be shared with the public in 2022.