Iran’s first digital currency is one step away from launching, according to a report published by Iranian media group Ibena.ir on November 9th.
The unnamed token, backed by the Iranian Rial, awaits final approval from Iran’s Central Bank before being issued to banks across the country.
Ibena spoke with Seyyed Abotaleb Najafi, CEO of the company designing and issuing the token – Informatics Services Corporation (ISC) – who confirmed the launch is imminent.
“In the first phase, the blockchain banking infrastructure will be granted to Iranian commercial banks to use it as a token and payment instrument in transactions and banking settlement.”
The timing is ideal, considering the reinstatement of oil and financial embargoes on Iran. But will crypto ideals of freedom and individuality also make the cut?
Read the article on Bitcoin Australia.