(MENAFN) Türkiye is progressing toward creating and issuing a digital version of its national currency, the lira, as initiatives to establish its legal framework gain traction, according to the 2026 Presidential Annual Program.

The Digital Turkish Lira initiative, spearheaded by the country’s Central Bank, is set to enter a new stage next year. The bank will have finished simulations of the digital currency as part of its impact evaluation.

The Central Bank will outline the technical specifications for exchanging securities using the digital lira and will formulate relevant regulations. "Proof of concept analyses" will also be conducted on the utilization of the digital currency in tokenized securities transactions.

In September, the Central Bank launched a call for participation in the digital Turkish lira ecosystem project.

The bank emphasized that the digital currency will serve as a crucial element of the nation’s fintech ecosystem, with ongoing efforts to establish the infrastructure for innovative applications of the currency.

A progress report for the second phase of the digital Turkish lira project is expected to be released by the bank in the forthcoming months.

The participation call seeks to motivate banks, payment and electronic money institutions, and technology solution providers to explore inventive applications for the currency across various sectors.

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