Turkish President Recep Tayyip Erdogan instructed the government to complete pilot tests of the digital lira from the central bank in 2020, the Cointelegraph reports citing Resmi Gazete.
Among the goals of the Turkish CBDC are:
- strengthening financial sector infrastructure;
- reduction of financing costs of the real sector of the economy;
- expansion of financial instruments for investors;
- supporting Istanbul's desire to become an attractive global financial center.
Earlier, the country's authorities announced the creation of a national blockchain platform.