Iran To Launch National Cryptocurrency In Pilot Mode

The head of the Central Bank of Iran said on Sunday that the national cryptocurrency will enter the experimental stage in the near future. Ali SALEHABADI also added that central bankers are currently examining the risks and benefits associated with this issue.

National cryptocurrency was not the only topic discussed by the head of the Central Bank of Iran and lawmakers at the Sunday meeting. They also agreed to form a joint commission to quickly finalize the long-awaited plan to reform the law on the country's central bank.

In 2018, Informatics Services Corporation, the executive body of the Central Bank of Iran in charge of managing the country's banking and payment services automation system, was tasked with developing a national cryptocurrency. Later, company representatives stated that the Iranian cryptocurrency was developed using the Hyperledger Fabric platform.

Image: Coin Insider