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 to the Chamber, which said the CBDC was intended “to help improve financial inclusion and function as a powerful tool for the CBI to compete with other stable coins globally.” It added that experts within the country had concerns about businesses’ preparedness to use a CBDC, the public’s understanding of digital wallets and the affect the introduction would have on banks.
Iran begins pilot launch of crypto-rial tomorrow: Central Bank of Iran (CBI) said on Wednesday that it will begin the pilot launch of crypto-rial as the bank’s digital currency as of Thursday. https://t.co/6rWpGSkQJR pic.twitter.com/S9rDgEgjio
— Tehran Bazaar (@TehranBazaar) September 21, 2022
The crypto rial has...
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