Digital Turkish Lira: what the CBRT's CBDC pilot means for finance software

In September 2022, the CBRT (Central Bank of Türkiye) announced its Digital Turkish Lira (DTL) Research and Development Project. Technical testing followed in the first phase in 2023, an institutional pilot ran through 2024-2025, and 2026 brought the expanded pilot — with banks, fintechs, and e-commerce platforms on board.

With 134 countries actively working on CBDCs worldwide, Türkiye stands out. This article unpacks what the DTL concretely means for finance software, reconciliation, and corporate payment infrastructure.

What happened? What is the Digital Turkish Lira?

CBDC (Central Bank Digital Currency): digital money issued directly by the central bank. It is not crypto — it sits on the bank's balance sheet, is pegged 1:1 to the lira, and is official digital money.

The DTL has two layers:

• Wholesale CBDC: for interbank transactions. Wholesale payments, repo, swaps.
• Retail CBDC: the digital wallet the public uses. Mobile-first, instant payments.

A CBDC is not crypto — it is centralized, auditable, and regulation-compliant. It is not an alternative to your bank account; it is a new instrument alongside it.

The CBRT's official CBDC page lays out the full framework.

2026 pilot participants

The expanded pilot grew in 2026 to include:

• Banks: Akbank, Garanti BBVA, İş Bankası, Ziraat
• Fintech: Param, iyzico, Paratika
• E-commerce: Trendyol, Hepsiburada
• Public sector: the CBRT, TCDD (the state railways), PTT (the postal service)

The pilot runs 12-18 months, targeting a public launch in early 2027.

4 impacts on finance software

1. A new payment channel

Today, a Turkish company collects payments through these channels:

• Bank EFT/wire transfer
• Cards (POS, online)
• Crypto (limited)
• Checks

The DTL is being added as a fifth channel. Its advantage: instant settlement (a bank EFT initiated after hours rolls over to the next day; the DTL runs 24/7).

iFinances' three-way reconciliation model gains a new source — the CBRT DTL.

2. A faster close

The classic bottleneck of the monthly close is bank reconciliation (EFTs landing after 17:00, and so on). With the DTL, that bottleneck melts away — close timing becomes independent of banking hours.

Details: managing the year-end close reconciliation crunch.

3. KVKK + AML architecture changes

The DTL is fully traceable. Every transaction is visible to the CBRT. That is good news for AML (anti-money laundering), but it raises new architectural questions under KVKK (Turkish data protection law).

iFinances operates in this architecture with a data separation discipline — personal data, financial data, and audit data live in separate layers.

4. VAT and tax automation

Could VAT be withheld automatically on a DTL transaction? That debate is ongoing. If the answer turns out to be yes, tax automation could shift from the finance-software layer into the CBRT's infrastructure.

Details: 2026 Turkish tax changes.

A strategy for Turkish finance teams

Step 1: Track the CBRT's DTL pilot status

Follow the CBRT's official announcements. If your bank is a pilot participant, request early access.

Step 2: Ask whether your finance software is CBDC-ready

Every finance software vendor, iFinances included, is preparing for CBDC integration. Ask your provider about their roadmap.

Step 3: Measure customer payment preferences

Would your customers want to pay in DTL? Run a test during the pilot period.

Step 4: Update your AML/KYC processes

The DTL's traceable nature is an advantage for AML. Update your processes accordingly.

Step 5: Plan for cross-border

Once multiple countries issue CBDCs, cross-border CBDC payments become possible. Türkiye's strategy for linking up with the EU's CBDC is worth watching. Details: MiCA and PSD3 — the EU's new finance rules.

Global comparison

| Country | CBDC status | |---|---| | China | Launched (e-CNY) | | Bahamas | Sand Dollar live | | Türkiye | Expanded pilot 2026 | | EU | Digital euro in preparation | | US | Research | | UK | Britcoin under evaluation |

Türkiye sits in the early adopter category — a strategic advantage for its fintech ecosystem.

Conclusion

The CBRT's Digital Turkish Lira is a new infrastructure layer for finance software. Reconciliation, payments, tax, AML — all of it will be redesigned.

Turkish finance teams should prepare for this shift with modular finance software. iFinances delivers exactly that modularity. Request a demo or explore the modules.