The Central Bank of Iran started preliminary trials for its own digital currency, named “crypto-rial”, governor Ali Salehabadi, says in interview shown on state TV on Tuesday.
- Salehabadi: 10 billion rials, approx. $33,300, has been distributed to a limited number of people and two retailers involved in early pilot
- Two major Iranian commercial banks, Bank Mellat and Bank Melli, are also involved, Salehabadi says
- Widespread testing of the digital currency will take place if pilot succeeds
- Salehabadi didn’t give any details about the technology used to build the digital currency
To contact the reporter on this story:
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.