Digital Iranian rial enters the trial phase of the CBDC project.
The authorities in Tehran plan to expand the use of the state-backed currency and integrate it into Iran’s payment system.The project to issue a digital version of the Iranian national fiat, also referred to as the “crypto rial,” is entering its trial phase, the head of the payment systems supervision department of the Central Bank of Iran revealed this week.
On Monday, the first day of the forum, Mani Yekta also noted that more than 90 central banks are working on projects in the field of blockchain. Iran’s monetary authority made the initial steps in that direction, mostly in terms of technical measures, in 2017, he pointed out. He reminded that the CBI has been addressing various issues such as the management of economic challenges related to micropayments and studying various other aspects. He also remarked that the first release of the digital rial was carried out in September, 2022, when the bankThe issued currency was distributed among national and commercial banks which have the necessary infrastructure and are ready to provide relevant services to the public.
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