Azerbaijan has introduced its first official cryptocurrency, PortCoin (PTC), developed by Mobile Payment Solutions LLC, known for the Portmanat platform. PortCoin operates on the Binance Smart Chain (BEP-20 standard) and has been tested under a special regulatory regime supervised by the Central Bank of Azerbaijan since November 2024. The cryptocurrency allows users to buy, sell, and convert funds from foreign crypto wallets to Azerbaijani manats through the Portmanat application. Transaction limits are set at 1,000 AZN per month and 5,000 AZN over six months.
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