BAKU, Azerbaijan, November 25. Iran's three banks are currently utilizing the digital currency rial in the Kish island, director general of Iran's Central Bank Mohammad Reza Farzin said at the 11th New Bank Conference in Tehran on 25 November, Trend reports.
According to him, Iran's Mellat, Tejarat, and National banks are now in the thick of it with the digital rial. In the not-so-distant future, five more banks will jump on the digital rial bandwagon.
According to Farzin, many countries around the world are utilizing digital currency. Currently, the use of digital currency is being tested in 23 countries, including South Korea, China, UAE, Türkiye, and Iran. There are many benefits to using digital currency. Thus, it simplifies payment, allows for programming, and increases smartness.
Commenting on the issue of cryptocurrency and the policy of Iran's Central Bank, the chief of Iran noted that cryptocurrencies are currently developing rapidly in the world. Their use has different forms. The application of rules in this field is a very difficult task. All countries are facing a problem in this field for the first time. The first transaction is formed, and then the rules are regulated. This process happened in Iran as well. Currently, there is a large market in front of Iran's Central Bank. However, there are no carefully regulated rules in this field.