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Turkey Wants to Complete the Tests of its CBDC in 2023

Turkey Wants to Complete the Tests of its CBDC in 2023

Turkey expects to complete trials of its digital currency by the end of the year due to the fact that the central bank of the country has already successfully implemented the first test transactions with the digital lira.

According to the regulator, the digital lira will be used in the domestic market as a means of payment.

The Central Bank of Turkey announced last year the creation of a token and did not rule out that such a tool could appear in the regular mode within the next year.

The regulator plans to test the digital lira when paying for goods and services in Q1 2023.

Besides, the CBDC testing will be carried out with the gradual involvement of all market participants in this process.

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