The Central Bank of Iran (CBI) is planning to launch a central bank digital currency (CBDC) pilot program soon.
followreport The Iranian Labor news agency said the CBI deputy governor said the CBDC could help the country resolve financial inconsistencies.
The development of cryptocurrency in Iran began in 2018 at Informatics Services Corporation, the executive branch of the CBI, with the development stage being completed. and will launch a pilot soon. However, the CBI has not released many details about the time frame.
The Iranian CBDC is developed using the Hyperledger Fabric platform hosted by the Linux Foundation.
Iran is currently experiencing financial and economic difficulties as a result of heavy economic sanctions by the United States.
Among these problems Iran turned to crypto and was one of the first countries to allow legal Bitcoin (BTC) mining in hopes of revving the economy. due to sudden power shortages and power outages
Iran also wants to use cryptocurrencies for international trade Hoping to avoid trade sanctions, the CBI and the Ministry of Trade have reached an agreement to link the CBI payment platform with a trading system that allows businesses to make payments using cryptocurrencies.
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