Turkey’s central bank looks at digital currency

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Turkey’s central bank said it had created the digital Turkish lira collaboration platform to conduct more research into the possible benefits of a digital currency, Reuters reported.

The bank said it has signed separate agreements with Turks Havelsan, Aselsan and Tubitak-Bilgem for the platform, according to the report. These will carry out research, development and testing.

No final decision has been made on whether a digital readout will be available, the report said. However, the results of the first phase of the pilot study will be announced in 2022.

Meanwhile, wealth management platform Abra, which works with cryptocurrency investors, raised $ 55 million in a Series C funding round, according to a Press release. Abra’s total funding to date is now over $ 85 million.

With the new capital, the company plans to expand into new offerings for wealth management, trading and payments, the statement said. It also plans to strengthen its marketing team and develop its institutional commercial offer.

The round was led by IGNIA and Blockchain Capital, with new investors including Kingsway Capital, Tiga Investments and the Stellar Development Foundation, the statement said. Additional investments came from existing investors including Lerer Hippeau Ventures, Amex Ventures, Arbor Ventures, RRE Ventures, CMT Digital Ventures and Kenetic Advisors.

In addition, several of the company’s clients, including leading individual crypto investors, participated in the round, the statement said.

“Crypto-currencies, [nonfungible tokens (NFTs)] and [decentralized finance (DeFi)] are now a priority for almost all investors, ”said Abra Founder and CEO Bill Barhydt in the output. “The crypto asset class is growing exponentially, even surpassing the start of the Internet trading itself. Our vision for crypto-centric banking is coming to life before our eyes, and Abra is excited to serve as a leader in the space.

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