The Bank of Turkey announced in April 2021 its intention to launch a national digital currency. According to the regulator, work is already underway to create an infrastructure for operations with the token.
Turkey’s Strategy and Budget Office has this week presented a program to modernize the financial system. According to the document, the CBDC may appear on the domestic market as early as next year.
The creation and implementation of the digital currency will take place with the participation of research institutions, as well as the financial department. The Turkish government will oversee the project to launch the national digital currency.
The Central Bank does not exclude that the digital lira will be integrated into the FAST payment system.
