Global: Turkish Central Bank completes first CBDC pilot transactions

The Central Bank of the Republic of Türkiye (CBRT) has run its first test transactions on the digital Turkish Lira CBDC network.

The CBRT says it will continue to run limited, closed-circuit pilot tests with technology stakeholders in the first quarter of 2023.

Following evaluation of the pilot, the central bank intends to extend the network to banks and technology companies and run architectural tests on the use of distributed ledger technologies and their integration with instant payment systems. 

The Bank says studies on the economic and legal framework of the Digital Turkish Lira as well as its technological requirements will be prioritized throughout 2023.