Monday, October 25, 2021
Home Crypto News Market Turkey Will Test The National Digital Currency In 2021

Turkey Will Test The National Digital Currency In 2021

- Advertisement -

According to the Governor of the Central Bank of Turkey Nasi Agbal, Turkey plans to test the national digital currency in the second half of the next year 2021.

Agbal’s statement came as a surprise, previously, no one knew about the digital Lira project. Even in the records of the Bank for international settlements (BIS), there is no evidence that Turkey is working on its state-owned cryptocurrency. However, now it has become clear that Turkey has joined the race to develop a national digital currency and, as it turned out, the project is already under work and the conceptual stage of digital Lira is completed.

“We have launched a project to create digital Lira. The conceptual phase of the project has already been completed. We plan to launch pilot tests in the second half of 2021, ” Agbal said.

Detailed information about the state digital currency of Turkey has not yet been reported. In September, some cryptocurrency publications reported that the Central Bank of the country is looking for experts on blockchain and digital currencies to develop its own state-owned cryptocurrency.

Among big economies, Russia is also working on creating a digital version of the Ruble, which should help companies and citizens of Russia in making payments, and reduce payment processing costs.

At the moment, the leader in the development and implementation of digital currency is China. China has passed many stages of testing Digital Yaun. At the same time, the Chinese authorities do not position their national cryptocurrency as a replacement for global Fiat currencies.

- Advertisement -
Albert Brownhttps://thecryptobasic.com/
Albert Brown is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. Holds major cryptocurrencies and has written for multiple crypto media outlets. His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

2 COMMENTS

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Recent News & Articles

Good Games Guild Announces Triple IDO on Seedify, Ignition, MoonStarter

Jakarta, Indonesia, 24th October, 2021, Good Games Guild, a gaming hub that aims to create the largest virtual world economy by optimizing its owned...

YearnNFT Finance: An Advanced Approach to NFTs with Digital Art and Collectibles

Since August, the market sales with respect to NFTs have skyrocketed, where a single NFT sales round up to millions worth. There have been...

The Bank Of Israel Aims To Launch Its CBDC On Ethereum

For now, central banks around the world are still working on developing and testing their own CBDCs, but there are new ones that are...

Russian Central Bank Head Says Russia Is Not Ready To Launch Crypto ETFs

The head of the Bank of Russia, Elvira Nabiullina gave a negative answer to the question about the possibility of trading cryptocurrency ETFs in...

Spanish Banks Anxiously Waiting For Central Bank Approval To Work With Cryptocurrencies

Spanish banks are interested in providing cryptocurrency services directly to clients and expect the Spanish Central Bank will bring regulatory clarity for crypto.

Reddit Intend To Bring Its Non Fungible Token (NFT) Platform

Reddit is looking to hire people for what could become a new platform for non-fungible tokens (NFTs) and digital goods. ...

Second Bitcoin ETF, Valkyrie Bitcoin Strategy ETF (BTF) Started Trading On Nasdaq

On the Nasdaq Stock Exchange under the ticker BTF, a Bitcoin futures ETF from Valkyrie Investments began trading at a price of $25.5.

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.