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Iran Launches Digital Rial Pilot on Kish Island


The Central Bank of Iran (CBI) has announced the initiation of a pilot scheme to introduce the country’s central bank digital currency (CBDC) on the southern island of Kish. The CBI stated on Tuesday that the digital rial will be available to banking customers and tourists in Kish starting...

Iran to launch public CBDC pilot in June


Unlike other types of electronic money in Iran, the digital rial doesn’t require interbank settlement to transfer funds between the buyer and the seller

Iran Looking to Replace Dollar With Dinar in $10 Billion Trade With Iraq


Iran’s government considers employing the Iraqi dinar in bilateral trade with Iraq in a bid to further curtail the dominance of the U.S. dollar. The annual turnover between the two neighboring nations exceeds $10 billion with millions of pilgrims and health tourists crossing the border each year....

Russia and Iran Phasing Out US Dollar in Bilateral Trade Settlements


The governments of Russia and Iran are starting to phase out the usage of the U.S. dollar to conduct bilateral trade settlements. Russian Deputy Prime Minister Alexander Novak stated that 80% of Russia-Iran trade transactions are settled using national currencies and that they are considering also...

Iran’s Crypto Rial Project Enters Trial Phase


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...

More Than 65% of Oman’s Crypto Holders Are College Graduates — Study


Approximately 65,000 of Oman’s residents are holders of crypto and a majority of these are either high school or college graduates, a new study by Souq Analyst has found. According to the study’s findings, an overwhelming majority (90%) of Oman’s crypto holders are aged between...

Iran Begins Central Bank Digital Currency ‘Crypto Rial’ Pilot Today


The Central Bank of Iran (CBI) has reportedly begun a pilot for its central bank digital currency (CBDC), also known as “crypto rial.” Iran’s chamber of commerce explained that the “crypto rial has been designed in a way that is easy to track, and even if the data on...

Crypto Trading, Investing Illegal in Iran, Central Bank Governor Reiterates


It is illegal to buy or sell cryptocurrency in Iran, the head of the country’s monetary authority has recently reminded citizens and businesses. The governor noted, however, that mining cryptocurrencies and using them in payments for imports is not against the law in the Islamic Republic....

Iran Aims to Roll Out Pilot Version of Crypto Rial Within 2 Months


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...

Iran Will Not Allow Crypto Payments, Prepares to Pilot Digital Rial


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,”...

Iran to Pilot ‘National Cryptocurrency,’ Amend Central Bank Law


The central bank of Iran is gearing up to begin the pilot phase of its digital currency project in the near future, its new head announced to representatives of local media. The monetary authority is also preparing to move forward with a plan to reform the legislation that governs its...

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