Turkey's Central Bank Executes First Payment Test Transaction on Digital Turkish Lira Network

The Central Bank of Turkey (CBRT) has announced the successful execution of the first payment transaction on the Digital Turkish Lira Network within the scope of the first phase of studies of the Digital Turkish Lira Project under the Bank's leadership. The Central Bank of Turkey will continue limited closed-loop pilot testing with technology stakeholders in the first quarter of 2023 and will also expand the Digital Turkish Lira Collaborative Platform in 2023 to involve selected banks and fintech companies and will announce Advanced phase of pilot study to further broaden participation.