Turkey Is Finalizing National Digital Currency

Turkey’s central bank is reportedly testing protocols to finalize its proposed national digital currency.

According to the Asia Times and BTCmanager, Turkey’s central bank is set to finish final testing on a digital Lira by 2020. These testing protocols will also reportedly include instant payment gateways that will utilize the digital currency.

The Turkish government plans to stabilize the economy, and earlier this year, President Erdogan's administration included the digital Lira in its four-year economic recovery plan.

In a document released Turkey’s official national publication states:

“The main objective is to establish a financial sector with a strong institutional structure that can respond to the financing needs of the real sector at a low cost, offer different financial instruments to a wide investor base through reliable institutions and support Istanbul’s goal of becoming an attractive global financial center.”

This article is not intended to be financial advice. As always, do your due diligence before investing, and never invest more than you can afford to lose.

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