Countdown begins for the digital Turkish lira

Turkey is counting down to the launch of the digital Turkish lira as work continues to make the currency available and expand its use under the government’s medium-term economic program.

The program calls for secure and innovative development of payment systems and the wider financial technology ecosystem alongside the digital currency initiative.

The fight against the informal economy will be a central priority. Authorities plan to broaden digital oversight mechanisms in an effort to minimize tax losses and evasion.