Turkey’s digital lira will use “programmable payments” that will be dependent on the services provided by intermediaries, the Central Bank of the Republic of Turkey (CBRT) has said.

The central bank released an English language version of the findings from phase one of its digital lira pilot on February 19. It had published the Turkish version in December 2023. 

Like the designs of many other CBDCs, Turkey is exploring a two-tier approach. The first tier will involve the central bank issuing the