TRYB

Overview

TRYB is a Turkish lira stablecoin issued by Bilira Kripto Varlık Alım Satım Platformu Anonim Şirketi, which trades as BiLira, backed one to one by lira held in custody accounts in Turkey.

Its reserve disclosure clears the top rung of DIA's ladder, and it does so on all three of the things that rung asks for. The report series runs from 2020 to 2026. The 2026 entries are independent auditor's reports from a named external firm, Corpus Denetim ve Yeminli Mali Müşavirlik AŞ, signed by Okan COŞGUN as Partner in Charge. They examine a management assertion under International Standards on Auditing to obtain reasonable assurance, and they conclude with an opinion in the affirmative rather than a statement that nothing came to the firm's attention. The assertion examined is signed by BiLira's Chief Executive Officer, Oğuz Bora KARACA. Most of the other high-demand regional coins on this map publish no reserve document at all.

The reports also write their own scope down, which is rarer than the attestation itself. The first of the two criteria lists eight token contracts by explorer link and defines TRYb issued and outstanding as the amount those contracts carry at a stated date and time, so the perimeter sits inside the definition the opinion is given against rather than in a note beside it. Writing both of those down is what makes an attested figure testable, and both 2026 reports have now been reconciled against chain state at the instant each one names, to within about a tenth of a token. DIA has read three, nine and eight contracts for this coin on three occasions between 29 July and 5 August 2026. The ninth is on Polygon and appears in neither 2026 report, so the attested figure cannot speak to it. The reserves block and the coverage block below take that apart.

Sources: BiLira, BiLira reserve report, 21 May 2026, BiLira reserve report, 20 February 2026

Backing and reserves

BiLira states that TRYB is backed one to one by Turkish lira held in custody accounts, and it publishes dated reports covering that backing running back to 2020.

The 2026 reports name their attestor, state their assurance level and give their conclusion in the affirmative. Both are headed Independent Auditor's Report and both are signed in Istanbul by Okan COŞGUN, Partner in Charge, Sworn-in CPA, for Corpus Denetim ve Yeminli Mali Müşavirlik AŞ. The engagement is an examination of a management assertion, conducted in accordance with International Standards on Auditing, planned and performed to obtain "reasonable assurance about whether the Reserve Account Information in the accompanying Reserve Account Report is correctly stated". The conclusion is positive in form: "In our opinion, the Reserve Account Information in the accompanying Reserve Account Report ... is correctly stated, based on the criteria set forth in the Reserve Account Report, in all material respects." The assertion examined is signed by Oğuz Bora KARACA, Chief Executive Officer.

Two reports give two readings, and the difference between that and a trend is the whole of what this section can honestly claim. At 20 February 2026, 11:00 GMT +3, the report gives 93,461,209.40 TRYb issued and outstanding against TL 109,099,082.00 held. At 21 May 2026, the same hour, it gives 162,677,688.00 against TL 175,366,533.00. Each date is above full backing at the moment it names.

The temptation is to read a growth rate and a coverage ratio off that pair, and this page declines to. The quantity on the token side does not hold still. The risks block below records two correct reads of a single TRYB contract, one block apart, differing by more than four times, and a thirty day sample of that same leg moving between roughly 72 million and 324 million with no trend. A ratio whose denominator is one point sample of a quantity behaving that way describes the instant it was taken and not the coin. Naming the instant, which both reports do, is what makes the figure checkable. It is not what would make it representative, and those are different virtues.

Each report also fixes a moment. Both state a Report Date and Time of 11:00 GMT +3, and both criteria define their quantity as of that moment rather than as of a day. That is what makes the figure testable, and on 5 August 2026 DIA tested both against chain state at the instant each report names. February reconciles to 93,461,209.51 TRYb against 93,461,209.40 attested. May reconciles to 162,677,687.87 against 162,677,688.00. Each difference is about a tenth of a token, which is what rounding a reconciled total to the whole token looks like. The method and the one qualification that belongs with it are in the coverage block below. A report that named neither an instant nor a contract list could not be checked this way at all, whatever its assurance level.

What the opinion covers is set by two criteria, and reading them is what separates this report from most.

The first defines the token side. It lists eight contracts by explorer URL and defines TRYb issued and outstanding as the amount denoted under those contracts at the Report Date and Time. The February and May reports carry the same eight. It deducts nothing, and the reconciliation is the evidence for that rather than the wording, since raw contract totals on the eight are what reproduce the attested figure. EURC's criteria do the opposite, deducting two named categories, tokens allowed but not issued and access denied tokens, and printing each amount. A figure defined as everything the listed contracts carry counts tokens the issuer holds itself alongside tokens a holder holds, and the report offers a reader no way to tell the two apart.

The second defines the reserve side as "the total balances in accounts held by the Company at federally insured TL depository institutions on behalf of the TRYb holders at the Report Date and Time", and that sentence has a problem in it. Türkiye is a unitary state with no federal level, and lira deposit insurance is administered by the Savings Deposit Insurance Fund, the TMSF. The category the examined figure is anchored to does not exist where the money sits, which reads as a United States template carried across without adaptation. The first criterion shows the same hand, calling Etherscan and BscScan public blockchains when they are block explorers. Neither observation is a finding about the reserve. Both are reasons to want the banks named, and no custodian is named anywhere in either report.

Part of the document sits outside the opinion, and the report says so itself. The Notes carry their own header, "(No Assurance Provided by the Independent Auditor on These Notes)", and the auditor states that the information there "has not been subjected to the procedures applied in our examination". Where that boundary falls on custody is worth stating precisely, because it is easy to get backwards. The institution class and the on behalf of the TRYb holders language are in the second criterion, which the opinion cites. The word segregated appears only in the Notes, which it does not. So the definition of the balance is inside the opinion's reach and the description of the account structure is outside it.

No cadence is stated. BiLira says its reports are published regularly and names no interval, so the rhythm has to be read off the series, which ran roughly quarterly through 2024 and 2025 and twice so far in 2026. An observed rhythm is not a commitment, which is why this page dates the claim.

None of this is discoverable by search. BiLira's reports carry no text layer, so the auditor's name, the criteria and the boundary all exist only in the rendered document.

What no onchain method can do is confirm a lira balance in a Turkish bank account. On TRYB that confirmation exists, it is dated, it is signed, and its scope is written down, which is what separates this coin from the rest of the regional set.

Sources: BiLira reserve report, 21 May 2026, BiLira reserve report, 20 February 2026, BiLira reserve report index

Risks

TRYB's verification gap narrowed in July 2026. The reserve is examined by a named external firm under ISAs and the series is running, so the open questions are about scope, continuity and access rather than about whether anyone has looked. The most recent report DIA has located is dated 21 May 2026, observed on 2026-08-05.

Scope is the sharpest of them, and it runs in two directions. The February and May 2026 reports enumerate the same eight contracts across eight chains, identified by explorer link, inside the criterion that defines the attested token figure. DIA has read three, nine and eight of those contracts on three occasions between 29 July and 5 August 2026, and the last two of those readings carry the same date as each other. The later of that pair is short by one contract because DIA's reader failed on the Ethereum deployment rather than because anything changed on the token, so that gap belongs to this map and not to TRYB. What this page can say about coverage is a property of a run rather than a standing capability, which is why every count here is dated and why none of them is offered as the number. That is why every coverage sentence here carries the date it was true on. The extra contract is on Polygon, it held 16,896,527.25 TRYB on that snapshot, and it appears in neither report, so tokens exist that the attestation does not speak to. Of the eight the criteria do enumerate, the Codex deployment read zero on that snapshot, and it is the same entry that carried 2,412,664.11 TRYB at the instant the February 2026 report names and nothing at the instant the May one names. That entry last carried a balance on 11 May 2026, ten days before the instant the May report names, and the whole of it went in a single transaction. Archive reads return a balance on every date sampled between the February report and that day. A scan of every event the contract has emitted since, to 5 August 2026, records no transfer of any kind, and the two snapshots this map holds that include the contract both read zero. So the May criteria enumerate a contract that had been empty for ten days, while the February criteria enumerated the same contract while it was holding. The enumeration is a fixed list of deployments whose members carry different amounts, or nothing at all, from one report to the next. It is not a map of where the token sits, and an entry on it is not evidence that anything is there. Three counts of the same object, each true of what it names: eight contracts enumerated by the criteria, eight contracts returning a supply on 5 August 2026 with a ninth attempted and recorded as failed, and one of the enumerated eight answering zero. This page says which one it means.

In the other direction the boundary runs through the custody description rather than around it. The second criterion defines the reserve as balances held at federally insured TL depository institutions on behalf of the TRYb holders, and the opinion is given against the criteria. The word segregated appears only in the Notes, which the auditor states were not subjected to the procedures applied in the examination. So the balance and the institution class are inside the opinion's reach and the account structure described alongside them is not. An attestation with a boundary is worth more than no attestation. Reading it without the boundary is where a reader gets misled.

Continuity. BiLira publishes no reporting interval, so there is no date by which the next report is due and no way to tell a pause from a stop until it has run long.

Access. Redemption terms are not stated on BiLira's English-language pages. Who may redeem, at what minimum, under what fee schedule and behind which identity checks is unknown from public sources, and redemption mechanics are what separate a claim on reserves from a token that merely trades near its peg.

The last item is a measurement problem rather than a disclosure one, and it is unusual enough to state plainly. TRYB's Ethereum contract runs a large mint and burn cycle, minting to and burning from addresses that are not labelled, and the size of the cycle is close to the size of the token. Two correct reads of the same contract one block apart in July 2026 differed by 4.37x, and sampling across 30 days showed the leg moving between roughly 72 million and 324 million with no trend. The steps land on exact round figures, and this is observed at the level of the events themselves rather than inferred from a difference between two reads. A scan of every mint and burn on the Ethereum contract between 1 February and 5 August 2026 returns seventeen mints, each of exactly 250,000,000.000000 tokens, all to the same unlabelled address. Any single supply read of this coin is a point in time rather than a level, and that holds however carefully the read is done. On 5 August 2026 that address also held the largest balance on that contract. That was established by re-reading the candidate balances directly by contract call rather than by taking an explorer's ranking, and it left 90,216 TRYB unaccounted for, less than any balance in the ranked set, so the ordering holds. Both the date and the contract are load-bearing, and the contract half is stronger than a caution about precision. The Ethereum contract answered 85,232,722 TRYB when its supply was read directly from contract state on 5 August 2026, and there is no token-wide figure for that balance to be a share of. This page states the reason under its own supply panel: one or more of TRYB's legs hold bridged claims on tokens already counted on another chain, so the per-chain reads are not added together, and the map carries no first-party total for this coin. A balance on one contract therefore cannot be scaled to the token at all rather than scaled inaccurately, and the leg it sits on is the same quantity moving four-fold above, so a share taken on it describes one day on one chain. Concentration here cannot be read as ownership concentration without a label the chain does not provide, and a percentage drawn from it cannot travel to another chain or another date at all. Seventeen identical round lots to one wallet is not what issuance into a market looks like, and this page states that as an observation rather than an account of what the wallet is for, which the chain does not say.

Sources: BiLira reserve report, 21 May 2026, BiLira reserve report, 20 February 2026, BiLira reserve report index

What this map tracks

DIA reads TRYB from contract state rather than aggregating a third-party figure, and on this coin that raises a question most tokens do not.

A stablecoin supply figure is normally a level. On TRYB's Ethereum leg it is not, because a mint and burn cycle moves a quantity comparable to the token's own size within a single day. Two reads eight hours apart can disagree by more than four times without either being wrong. So a figure on this coin means nothing without the moment it was taken, and this page treats every per-chain read as a point-in-time observation rather than a total.

Cross-chain addition is a second question rather than a formality. Some of the supply on one chain is a bridged claim on tokens already counted inside another chain's total, so adding chains together double counts until bridge escrow is netted out. DIA does not present a summed figure as the amount of TRYB in existence, and the issuer's own attested figure covers only the eight contracts its criteria enumerate rather than the nine DIA reads.

One chain read zero on the 2026-08-05 snapshot and that is a finding rather than a gap. A contract that answers with a supply of nothing has been read successfully, and the page marks it as read and empty rather than as unread, because the first is a fact about the token and the second would be a fact about DIA. That chain is Codex, and it is not always empty. At the instant the February 2026 report names it carried 2,412,664.11 TRYB, and at the instant the May report names it carried nothing, having last held a balance on 11 May 2026.

Separately from the daily read, DIA ran a one-off check of both 2026 attestations on 5 August 2026, reading the eight contracts the criteria enumerate from archive nodes at the last block at or before the instant each report names. Both reconcile to within about a tenth of a token. One qualification belongs with that: seven of the eight legs are EVM contracts read at a block, while the eighth is on Solana, where no public endpoint serves a historical supply, so it enters both reconciliations at its balance on the day of the check rather than at the instant, and the residual each report implies for it falls about a tenth of a token either side of that balance. That check is not something this map computes on a schedule, and the per-chain figures shown on this page still come from the dated snapshot.

What holds regardless is the first-party read itself, per contract and per chain, alongside the dated attested figure from the auditor. Those are two different quantities measured two different ways, and showing both with their scope named is the honest version of this page.

Sources: BiLira reserve report, 21 May 2026, BiLira reserve report index

Common questions