Iran’s central Bank unveils CryptoRial

The Central Bank of Iran (CBI) has unveiled the CryptoRial, a central bank digital currency, which says can lead to the removal of bank notes for small payments.

24 June 2024
ID : 45576
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Mehran Moharramian, the deputy CBI director for technologies, says that the pilot launch of the CBDC has begun in Kish Island in southern country.

Noting that Iran is one of the leading countries in using modern banking methods, he said that some 93.5% of the Iranian adult population aged 18 or older have access to e-banking services.

The CryproRial can be used for small payments such as paying taxi fares, the official said.

He said that Iran is now the thirteenth country in the world which has launched a CBDC, adding that this progress has taken place despite the tough Western sanctions on the country.