Digital currencies issued by the central bank that are not pegged to a physical commodity are called Central bank digital currency (CBDC). Although central bank digital currencies are similar to stablecoins, they are controlled and operated by the state, unlike this currency. There are two types of central bank digital currency: retail central bank digital currency and wholesale central bank digital currency. A retail digital currency is a public digital currency designed to be used by anyone. A wholesale digital currency is a currency designed for use by financial institutions.
Let's take a look at the developments regarding the central bank digital currencies in Turkiye:
In November 2020, the Central Bank of the Republic of Turkey announced that they are working on CBDC.
In February 2021, the central bank digital currency trial phase started.
In July 2021, the Digital money and payment team was established.
In December 2021, it was announced that piloting of the central bank digital currency had begun.
2022 y?l?n?n Mart ay?na gelindiginde ise merkez bankas? dijital paras? ile ilgili taslak yasa tasar?s? haz?rland?.
By July 2022, the first part of the pilot phase was completed.
When it came to December 2022, it was mentioned that the target of operating in 2023 was mentioned.
