Central Bank announces latest status on digital Turkish Lira
The CBRT has shared the latest developments regarding the second phase of the Digital Turkish Lira Project, announcing that significant progress has been made in the areas of programmable payments, offline usage, and interoperability.
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The Central Bank of the Republic of Türkiye (CBRT) has shared updated information with the public regarding the second phase of the Digital Turkish Lira Project.
In a press release dated November 24, 2025, it was stated that the project's research and development activities are ongoing, with notable steps taken particularly in the areas of programmable payments, offline usage capabilities, and interoperability.
In its statement, the CBRT announced the publication of the Digital Turkish Lira Second Phase Progress Report and noted that the report is accessible on the Central Bank's official website.
The information provided by the Bank emphasized that developments regarding digital currency efforts will continue to be shared with the public on a regular basis.
Press Release Regarding the Digital Turkish Lira Second Phase Progress Report: https://t.co/twpZOyMNVG pic.twitter.com/MlRlrEfN66
— Merkez Bankası (@Merkez_Bankasi) November 24, 2025
WHAT IS DIGITAL CURRENCY?
Digital currency is defined as the electronic form of official money issued by a country's central bank.
The digital Turkish Lira is not a separate currency from the existing Turkish Lira, but rather represents its digital format entirely. The digitalization of money is not limited to the ability to make payments in an electronic environment but encompasses a broader structure.
While it is underlined that digital currency and crypto assets are different from each other, there are varying views and research globally regarding the application of interest to digital currencies.
When the digital Turkish Lira is put into circulation, it will exist in circulation alongside banknotes.
DIGITAL TURKISH LIRA SYSTEM
The Digital Turkish Lira System is defined as a structure consisting of components that perform various functions related to digital currency.
Transactions to be made with the digital Turkish Lira will be carried out through financial intermediaries. It is stated that personal identity information is not included in the Digital Currency System created within the scope of the project.
DIGITAL IDENTITY AND PRIVACY
Digital identity is defined as the entirety of digital representations belonging to individuals, objects, or assets. The CBRT emphasizes that user privacy is observed as a fundamental principle in the digital Turkish Lira efforts.