Iran to Use its Cryptocurrency in Trades with Europe, UK, Russia and South Afric

[Goodcat49]

The head of Iran’s Trade Promotion Organization (ITPO) has said that the country is in talks with senior representatives from 8 nations to begin transactions with its ‘IranCoin’ - the newly created State-backed digital currency, Crypto-Rial, according to Tehran Times, a local news outlet.

Iran is now the second nation after Venezuela to establish its own digital currency to circumvent US economic sanctions. Iranian authorities began negotiations with 8 other nations to present its new innovation as an option to U.S. dollar.   

The head of ITPO Mohammad-Reza Modoudi said:   

“Starting a new chapter in its international monetary transactions to circumvent U.S.-led sanctions, Iran is in negotiating the use of cryptocurrency in its financial transactions with eight countries.”   

He added that necessary negotiations on the issue with representatives from Switzerland, South Africa, France, England, Russia, Austria, Germany and Bosnia have already been carried out. 

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/iran-use-cryptocurrency/