Turkey Plans To Launch A CBDC In 2023
The Presidential Strategy and Budget Directorate unveiled Turkey’s Presidential Annual Program for 2023 on Monday, which includes a discussion of a central bank digital currency.
The news comes a year after the Turkish central bank said in September 2021 that it was considering releasing a CBDC to supplement its existing payments infrastructure as part of the Central Bank Digital Turkish Lira Research and Development initiative.
The program’s Balance of Payments section, under the subheading Policies and Measures, said that a blockchain-based central bank digital currency would be implemented. Turkey’s central bank is in charge, with help from the local Ministry of Finance and the Scientific and Technological Research Institution.
According to the official report, the Digital Turkish Lira system will be connected with digital identification and FAST. The Turkish central bank operates the FAST payment system.
According to the source, the Turkish central bank would conduct research and development as well as testing of its CBDC in partnership with other banks.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Harold
CoinCu News
Coinbase responded to the SEC to prevent what it views as an unfair investigation by…
As Shiba Inu (SHIB) continues to evolve its ecosystem with a focus on crypto gaming,…
Analysts predict the spot Ethereum ETF launch in mid-July, with Bitwise amending its S-1 registration…
Despite the presidential debate impact on crypto, Bitcoin and altcoins are down. Mt. Gox sales…
Basel Committee approves cryptoasset disclosure framework and targeted revisions, enhancing transparency and market discipline.
Biden Replacement Memecoins surged: NOOSUM +15%, KAMA +220%, KENIDY +10%, while Jeo Boden fell 37%…
This website uses cookies.
