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Digital Rial

Pilot

Iran

Central Bank(s)

Central Bank of Iran

Announcement Year

2018

Status

Pilot

Retail/Wholesale

Retail

Technology

Hyperledger Fabric

DLT / non-DLT

DLT

Main motivation/goals of the CBDC

The main motivation for Iran's CBDC is to modernize its financial system and provide a secure and efficient means of payment. The development of a digital rial would also give the Central Bank of Iran more control over the country's monetary policy and can help to circumvent international sanctions. Additionally, the pilot launch of the CBDC could help to test the feasibility of such a currency and assess its potential impact on the economy before a full-scale implementation.

Description

CBDC is being debated in a special expert committee. After its approval and completion, there will be a step by step implementation strategy and a pilot launch program.

Link to announcement

www.tasnimnews.com
Timeline

Last update: November 2024

November 2024

Status updated

Proof of concept Pilot

Updated data

Link to announcement: www.tasnimnews.com

March 2023

Added data

Technology: Hyperledger Fabric

DLT / non-DLT: DLT

Main motivation/goals of the CBDC: The main motivation for Iran's CBDC is to modernize its financial system and provide a secure and efficient means of payment. The development of a digital rial would also give the Central Bank of Iran more control over the country's monetary policy and can help to circumvent international sanctions. Additionally, the pilot launch of the CBDC could help to test the feasibility of such a currency and assess its potential impact on the economy before a full-scale implementation.

Updated data

Link to announcement: cointelegraph.com

February 2023

Updated data

Link to announcement: financialtribune.com

October 2022

Updated data

Link to announcement: iranwire.com

September 2022

Updated data

Link to announcement: www.coindesk.comen.otaghiranonline.ir

June 2022

Updated data

Link to announcement: ifpnews.com

April 2022

Updated data

Link to announcement: news.bitcoin.com

May 2021

Status updated

Research Proof of concept

Added data

Description: CBDC is being debated in a special expert committee. After its approval and completion, there will be a step by step implementation strategy and a pilot launch program.

Updated data

Link to announcement: www.cbi.ir

November 2018

Status updated

None Research

Added data

Announcement Year: 2018

Retail/Wholesale: Retail

Link to announcement: bitcoinexchangeguide.com

Country / Region: Iran

Central Bank(s): Central Bank of Iran

News