Digital Turkish Lira moves into new preparation phase
Türkiye’s Central Bank announced on Monday that it is nearing the completion of the second development phase of the Digital Turkish Lira, the country’s planned central bank digital currency. The project is advancing in areas such as programmable payments, offline transactions, interoperability, and cross-border integration—key components ahead of the currency’s eventual launch.
According to the latest report, the digital lira is being designed around several core principles: privacy protection, technological and architectural flexibility, interoperability, adherence to the “do no harm” principle, and independence from reliance on any single financial institution. The overarching goal is to build an infrastructure capable of supporting innovative payment solutions while preserving the reliability and sovereign character of the national currency.
During the second phase, the system has been strengthened through enhancements in digital identification mechanisms, integration with financial intermediaries, and improved cross-border payment capabilities. These advancements aim to ensure that the digital currency can function as a complementary payment channel within Türkiye’s financial ecosystem.
Work continues on the technological, legal, and economic dimensions of the Digital Turkish Lira. Once this phase is completed, the project will move into its third stage, which will involve the controlled introduction and circulation of the digital currency.
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