TRYB

Fiat-Backed Stablecoin·active·Turkey

TRYB is a stablecoin pegged 1:1 to the Turkish lira. BiLira Kripto has issued it since 2019 and backs it with lira reserves audited by independent firms. The token runs on nine chains including Ethereum, Solana and Avalanche. Turkey's Capital Markets Board lists the issuer among crypto asset service providers permitted to operate.

M69 Score

Methodology →

2.5

Weakly aligned

Monetary Sovereignty

2.4

Civilizational Durability

2.3

Universal Adoption

2.7

Rated 6d ago

M69 Verdict

Turkey's first lira stablecoin. Audited 1:1 lira backing across nine chains, six years live, issuer on the SPK operating list. A regulated fiat wrapper with no fiat independence and a high-inflation anchor.

M69 Score

M69 Alignment2.5

Weakly aligned

1.02.03.04.05.0

Monetary Sovereignty2.4

Issuance (3x) + Stability (2x) + Fiat Indep. (2x)

Civilizational Durability2.3

Sovereignty + Governance + Resilience

Universal Adoption2.7

Traction (2x) + Inclusivity

Iss Mod3x

3.0

Stability2x

3.0

Fia Ind & Int2x

1.0

Traction2x

3.0

Sovereignty

2.0

Governance

2.0

Resilience

3.0

Inclusivity

2.0

Scored against the Money2069 Manifesto — see methodology. Higher = more aligned.

Detailed Rating Breakdown

Issuance Model3x

3.0

Single permissioned issuer minting 1:1 against lira deposits under published rules (IM-01 3); no debt mechanism (IM-02 4); supply mirrors reserves and contracts on redemption (IM-05 4); no real-economy signal beyond fiat backing (IM-03 1).

Spending Power Stability2x

3.0

Holds its lira peg closely (0.988 TRY on CoinGecko, 2026-08-20) with audit-verified reserves, but the anchor is the Turkish lira, a currency with persistent double-digit inflation; peg stability here is not purchasing-power stability (SPS-02 low, SPS-04 high).

Fiat Independence & Interoperability2x

1.0

Fully fiat: TRY unit of account, 100% lira reserves in Turkish banks, banking rails required for mint and redeem, no interop standard of its own.

Traction2x

3.0

Live since 2019, about 286M TRYB (~$5.9M) across nine chains, Turkey's first and main lira stablecoin; the issuer sits on the SPK operating list and runs its own licensed exchange. Small absolute supply, single market.

Sovereignty

2.0

Centralized corporate issuer under Turkish capital-markets regulation; contract-level controls and KYC-gated mint/redeem; on-chain transfer is open.

Governance

2.0

Corporate governance only; no community process; reserve audits are published but policy is issuer discretion.

Resilience

3.0

Six years live through the 2021 and 2023 lira crises without a peg-mechanism failure; fully dependent on Turkish banking and one company.

Inclusivity

2.0

Anyone can hold and transfer on-chain; mint and redeem require KYC through the issuer's platform; no anti-concentration design.