According to ChainCatcher, the Central Bank of Iran (CBI) announced the launch of a pilot program on the southern Kish Island to introduce the country’s central bank digital currency (CBDC). The CBI said that starting from June 21, bank customers and tourists in Kish will receive digital rials.
The launch expands a pilot program that began in May 2023 and involved working with Iran’s Tejarat and Mellat banks. The digital rial will be used for retail transactions, including the purchase of goods and services. Iran launched its digital currency initiative in 2021 after preliminary studies and approval from the country’s High Council for Currency and Credit.
