News with the tag "digital rial"

The digital rial is being developed for retail purposes so far, but the integration of Iranian payment systems with Russia may foil US sanctions.

The Central Bank of Iran (CBI) has announced the initiation of a pilot scheme to introduce the country’s central bank digital currency (CBDC) on the southern island of Kish. The CBI stated on Tuesday that the digital rial will be available to banking customers and tourists in Kish starting on the fi...

Iran is set to publicly roll out of the Digital Rial CBDC pilot program this month, starting in Kish Island. The public rollout of the CBDC’s pilot program aims to test efficiency in transactions, enhancing payment security. Success in the pilot program could lead to the expansion of the Digital Ria...