Turkish Lira backed stablecoin platform BiLira soon to launch

BiLira, a stable cryptocurrency that is backed by the Turkish Lira (TRY), where users can always buy and redeem 1 BiLira (TRYB) for ?1.00 Turkish Lira, is soon to launch.

Every BiLira is 100% collateralized by TRY and is custodied by the company’s banking partners, which include: Garanti, Vak?fBank, Fibabanka, and Turkish Bank.

Anyone who passes a KYC/AML check can purchase and redeem BiLira. Users will be able to send the BiLira ERC-20 token to anyone in the world within minutes.

How to Use

Steps to Purchase BiLira

1. User wires funds to a custodian bank.
2. Bank confirms the transaction and notifies BiLira.
3. BiLira mints tokens and transfers to the recipient’s wallet.

Steps to Redeem BiLira

1. The user sends tokens for redemption to an address provided by BiLira.
2. Once BiLira receives the tokens, they are removed from the total supply.
3. BiLira notifies the custodian bank to wire funds to the recipient’s bank account.