Iran is gearing up to launch its central bank digital currency (CBDC), the digital rial, as announced by Central Bank of Iran (CBI) governor Mohammad Reza Farzin. Speaking at a national banking conference, Farzin highlighted Iran's advanced digital financial infrastructure and its commitment to innovation despite international sanctions.

The digital rial, in development since 2018 using Hyperledger Fabric technology, has completed its "pre-pilot" phase and is being tested on Kish Island. Farzin noted the integration of Russian MIR and Iranian ACU payment systems, replacing SWIFT, and emphasized Iran's efforts to strengthen ties with BRICS.