According to the Governor of the Central Bank of Turkey, Nasi Ağbal, the agency plans to test the national digital currency in the latter half of next year.
Agbal’s statement came as a surprise – no one knew about the digital lyre project before. Even in the records of the Bank for International Settlements, there is no evidence that Turkey is working on its state cryptocurrency. However, it has now become clear that Turkey has joined the race to create a national digital currency and, as it turned out, the project is already at a late stage of creation.
“We launched a project to create digital money. The conceptual stage of the project has now been finished. We plan to launch initial tests in the second half of 2021,” Agbal emphasized.
Detailed information about the state digital currency of Turkey has not yet been reported. In September, the local cryptocurrency publication Koin Bülteni reported that the country’s central bank is looking for experts in blockchain and digital currencies to develop its own state cryptocurrency.
Currently, China is the leader in the development and implementation of digital currency. There have already passed several stages of testing the digital yuan. At the same time, the Chinese authorities are not positioning the national cryptocurrency as a replacement for global fiat currencies.
