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The pre-trial stage of the project to introduce a digital Iranian rial has been completed successfully, the country’s central bank announced. The authorities in Tehran plan to expand the use of the state-backed currency and integrate it into Iran’s payment system. Iranian Government Prepares to Trial Its Digital Currency The project to
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The Central Bank of Iran will make a pilot launch of a central bank digital currency (CBDC) on Sept. 22, the Iranian Chamber of Commerce has announced. The so-called “crypto-rial” has been in the planning stage for several years.The launch of the crypto rial was originally planned for November, according
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The government in Tehran is taking steps in preparation of the launch of Iran’s new digital currency, referred to as the crypto rial. The monetary authority of the Islamic Republic hopes to initiate the pilot phase of the project within the next two months. Crypto Rial to Be Different From Cryptocurrencies,
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Iran will not recognize cryptocurrencies as a means of payment, a high-ranking government official has indicated. His statement came as the Central Bank of Iran announced rules for the issuance of digital coins in the country. These are meant, however, for its own “crypto rial,” the pilot phase of which
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Ravaged by crippling hyperinflation, Iran’s Parliament has sanctioned the redenomination of its fiat — the rial — by replacing it with a new currency called the toman. According to the plan, each toman will be worth 10,000 rials.The redenomination plan effectively removes four place values (four zeros) from the Iranian
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