Iran is increasingly using cryptocurrencies to settle cross-border trade as the country faces intensifying U.S. sanctions and a naval blockade, the Financial Times reported on Sep. 8.
A cryptocurrency is a digital currency that runs on a blockchain, a shared public ledger, allowing money to move across borders without passing through the traditional banking system.
The country's central bank has in recent months quietly eased its strict foreign currency controls, encouraging businesses to bring funds back into the country through whatever channels are available, including crypto exchanges that handle Tether's USDT and Bitcoin (BTC), citing regime insiders, business executives and **** ysts, the report said.
Tether's USDT is a stablecoin, a type of cryptocurrency designed to hold a steady value against the U.S. dollar, making it useful for trade settlements.
Bitcoin is the world's first and largest decentralized cryptocurrency which has seen a wild appreciation in its value since its launch in 2009.
#trade #Iran
A cryptocurrency is a digital currency that runs on a blockchain, a shared public ledger, allowing money to move across borders without passing through the traditional banking system.
The country's central bank has in recent months quietly eased its strict foreign currency controls, encouraging businesses to bring funds back into the country through whatever channels are available, including crypto exchanges that handle Tether's USDT and Bitcoin (BTC), citing regime insiders, business executives and **** ysts, the report said.
Tether's USDT is a stablecoin, a type of cryptocurrency designed to hold a steady value against the U.S. dollar, making it useful for trade settlements.
Bitcoin is the world's first and largest decentralized cryptocurrency which has seen a wild appreciation in its value since its launch in 2009.
#trade #Iran
23 hours ago
