Iran’s Crypto-Rial May Hit Banks Within ‘Coming Days’

[kreslik.news]

Global financial messaging platform SWIFT has officially removed the Central Bank of Iran from its system due to sanctions placed by the United States. The ban will make it much more difficult for Iran to complete international trade deals. As a solution, Iranian officials have made the decision to expedite the creation of the Crypto-Rial, Iran’s state-backed national cryptocurrency.

Local news sourcesreported that Informatics Services Corporation (ISC), a private company that has joined forces with the Central Bank of Iran, has already developed the Crypto-Rial. CEO Seyyed Abotaled Najafi explained that the new currency ... (read more)