Digital Rial

The Central Bank of Iran (CBI) announced a digital Rial would be deployed describing it as a cryptocurrency. 

The IRR is not pegged. Local transactions occur in Toman which is 10% of the Rial.

VISA and Mastercard are not operational in Iran.

There is a very high level of mobile penetration in Iran. Hence the basic telecom infrastructure could exist for the intended CBDC.

 

 

 

 

 

 

 

“Digital Rial will be in form of a stable crypto currency and its value will be anchored to existing traditional paper Rial. The main difference is that its application environment will change.” CBI

 

By cryptorocks_editor

Editor.