Türkiye steps up legal efforts for digital form of local lira currency

Türkiye is working to develop and launch a digital version of the local currency, the lira, as efforts to create its legal framework have gained momentum, according to the 2026 Presidential Annual Program.

The Digital Turkish Lira project, led by the country's Central Bank, is entering a new phase next year. The bank will have completed simulations of the digital currency as a part of its impact analysis.

The Central Bank will determine the technical requirements for the exchange of securities with the digital lira and draw up regulations. Proof of concept analyses will be done on the use of the digital currency in tokenized securities exchanges.

In September, the Central Bank made a call for the digital Turkish lira ecosystem participation project. The bank said the digital currency will be a key part of the country's fintech ecosystem, and work is underway to create the infrastructure for innovative uses of the digital currency.

The bank will publish a progress report for the second phase of the digital Turkish lira project in the coming months.

The bank's call for participation aims to encourage banks, payment and electronic money institutions, and technology solution providers to develop innovative uses for the currency in various categories.