Iran Lanches its own cryptocurrency 🛢️💰
Iranian news agency Trehan News reported that Iran intends to launch a gold- plated cryptocurrency. Iranian Information and Communication Technology Director-General FANAP Shahab Javanmardi said that the Central Bank of Iran (CBI) has approved the release of new cryptocurrencies.
“The Iranian cryptocurrency will be supported by gold, but its function is similar to other cryptocurrencies. A crypto asset is designed to maximize the use of Iran’s frozen bank assets” – said Javanmardi.
The Financial Tribune reported that the gold-plated cryptocurrency project will be called Paymon.
Iran’s development of its own cryptocurrency is taking place against the backdrop of currency shocks in the country caused by US sanctions.
Similar statements are being made from Venezuela, which is also experiencing significant difficulties in international payments due to pressure from Washington.
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