The Central Bank of Turkey (CBRT) has conducted the first tests of its Turkish digital lira.
According to a statement issued on December 29th, the CBRT successfully completed the first payment transactions on its central bank digital currency (CBDC) network as part of an initial test phase.
“In the first quarter of 2023, the CBRT will continue its small-scale, closed-loop application pilot tests with technological stakeholders. “The test results will be made public in a comprehensive evaluation report,” the bank said.
The Turkish digital lira will advance to advanced stages in 2023, with the central bank conducting pilot tests with broad participation, including banks and financial technology companies, according to the CBRT.
(Reporting by Shikha Singh, Editing by Kapil Rajyaguru)
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