Sahap Kavcioglu, President of the Central Bank of the Republic of Turkiye, made important statements about the Digital Turkish lira. “Turkiye will be among the first countries to use digital money.” Kavcioglu stated that they will try the pilot implementation in the first quarter of 2023.
First Payment on Digital Turkish Lira Network Succeeded
Sahap Kavcioglu said that they made technological investments in payment systems and central banking. With innovative steps, meetings were held with relevant institutions under the leadership of the Central Bank. After these meetings, the Digital Turkish Lira Cooperation Platform was created.
Payments were made successfully through the Digital Turkish Lira Network. Payments were made in line with the first phase pilot implementation activities. In line with the liraization strategy, open banking services, the guide of the digital economy, will also be put into use. Work will be carried out on the Central Bank’s “GECIT” infrastructure.
SIPER, the layer service that is important for the Instant and Continuous Transfer of Funds application FAST, has been developed. Siper service can detect illegal uses easily and quickly. It is also a very functional service for document and information transfer.
Innovative startups will also be developed in the field of financial technologies and payment systems. Kavcioglu added that they are considering enlarging the platform and conducting pilot tests with many participants.
Well, what do you think about this first pilot application to be implemented by the Central Bank in 2023? You can share your views with us in the comment section.
Source: Startupteknoloji / Translated by Irem Yildiz