And as bitcoin adoption continues to flourish in Turkey their central bank is allegedly looking into finalising testing on a digital Lira by early next year.
The bold move is part of a 4 year recovery plan spearheaded by president Erdogan and his administration.
The announcement has come hot on the heels of the European Union’s plans to launch their own digital currency by rumoured to be called ‘Eurocoin’.
China are reportedly close to launching a digital RMB.
There are also a number of other nations looking to launch CBDCs or central bank digital currencies.
A digital Lira would ensure Turkey doesn’t fall behind the likes of China and other countries in the emerging digital economy.
Uncle Bob is veteran of the crypto game. None of what is written should be taken as financial advice and before investing everyone should do their own due diligence.
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