Türkiye carries out 1st payments on digital lira network

ANKARA

Türkiye has successfully executed its first payment transactions on the Digital Turkish Lira Network, the Central Bank said on Thursday.

The bank said it will make the digital lira platform available to selected banks and financial technology companies in 2023, as well as “unveil advanced phases of the pilot study that will further widen the participation.”

“Studies on the legal aspects of the Digital Turkish Lira demonstrate that digital identification is of critical importance for the project,” read a bank statement.

“Therefore, studies on the economic and legal framework of the Digital Turkish Lira as well as its technological requirements will be prioritized throughout 2023.”