Iran has launched a cryptocurrency backed by gold.

[Paha87]

In the Islamic Republic of Iran, a cryptocurrency backed by gold was launched, created to avoid us sanctions. Cryptocurrency, known as Peyman (the Persian word "Covenant"), is the fruit of cooperation between the four banks and the company Ghoghnoos.

Four partner banks, to launch a crypto-currency is Parsian Bank, Bank Pasargad, Bank Melli Iran and Bank Mellat. "It is expected that the Iranian exchange Fara Bourse, will also accept the new currency," -said the Iranian-English daily Financial Tribune.

Tokenization of assets owned by banks

According to the Director of Ghoghnoos Valjoly Fatemi, Peyman will be used for tokenization of assets and surplus assets of the banks:

A token can function as a wallet and channel excess assets into the economic cycle. We are committed to expanding technology to accelerate the pace of banking transactions.

Ghoghnoos indicated in the statement that originally prompted one billion units of tokens Peyman. In the near future, the cryptocurrency will be available for purchase on the Fara Bourse exchange.

The launch of Peyman took place against the background of assumptions that Iran plans to unveil the cryptocurrency supported by the state, the cryptocurrency, in order to avoid us sanctions. Sanctions have undermined the ability of Iran and its citizens to deal with the rest of the world. This is due to the fact that financial intermediaries such as SWIFT, it is forbidden to offer services to the country.

The state of cryptocurrency as a replacement for SWIFT

Plans to create a national cryptocurrency were announced last year after Iran identified cryptocurrencies as a workaround for sanctions.

Immediately after the second tranche of sanctions came into force in November last year, the head of the Central Bank of Iran Abdolnaser Hemtai announced that the alternative to SWIFT is being developed. A little more than a week later, Iran signed an agreement on cooperation between Armenia and Russia within the framework of blockchain solutions, announcing the completion of the creation of its own cryptocurrency.

At the first stage of the implementation of the cryptocurrency supported by the state, only institutions such as commercial banks will have access. Only at the second stage, ordinary people will be able to use cryptocurrency.

Iran does not intend to use a state-supported cryptocurrency to receive payments for exports or initial payment for imports. However, this step may allow Iran to join the international payment system, which will be based on blockchain technology in the future.

The Central Bank of Iran regulates the circulation of cryptocurrency

The launch of Peyman also comes less than a week after Iran's Central Bank published a draft regulation on cryptocurrency, according to Aljazeera. While the rules lifted the ban that was introduced earlier, they still imposed restrictions on the use of cryptocurrency. For example, bitcoin still can not be used as a means of payment in the country. There are also restrictions on the number of cryptocurrencies that can be held by every citizen of the country.

In addition to the settlement of cryptocurrencies, such as bitcoin, the Central Bank of Iran also allowed the initial offering of coins (ICO). Crypto-currency exchanges and bitcoin wallets also received the green light, as well as crypto-currency mining.

LINK - https://altstake.io/news/iran-zapustil-kriptovalyutu-obespechennuyu-zolotom

[sammysnack]

Will it be a good cryptocurrency only for Iran or will it be good for the rest of the world?

[HomelandPatriot]

Cryptocurrency is often compared with golden movements.

[trofim21]

All the news, of course, have a positive impact on the entire cryptocurrency market, and I see that every day many countries are more and more interested in cryptocurrency. I suppose I could never imagine that Iran is interested in blockchain technology and cryptocurrency. This is so cool )

[MDPK]

Iran has launched a gold backed cryptocurrency called “PayMon” in cooperation with four local banks and the Ghoghnoos Company, in a move made following international sanctions, the cryptocurrency was launched thanks to the collaboration between Kuknos Company and four banks, namely, Bank Mellat, Bank Melli Iran, Bank Pasargad, and Parsian Bank. The Financial Tribune quoted Valiollah Fatemi, director at Ghoghnoos, who revealed the PayMon was set to be used to tokenize the financial institutions’ assets and properties. A total of one billion PayMon tokens are reportedly set to be issued initially.

[RoyalGirl]

A gold-backed cryptocurrency called “PayMon” has reportedly been launched in Iran. According to Financial Tribune, four Iranian banks – Bank Mellat, Bank Melli Iran, Bank Pasargad and Parsian Bank – have partnered with blockchain startup Kuknos Company for the project.
Aimed for use in tokenizing the banks’ assets and properties, a billion PayMon will initially be issued, the report indicates. Iran Fara Bourse, an over-the-counter (OTC) crypto exchange, is likely to use the token, it adds.

[GasX]

Four banks in the Islamic Republic of Iran have developed a gold-backed cryptocurrency called PayMon, the crypto asset has been developed in cooperation with the Parsian Bank, the Bank Pasargad, Bank Melli Iran and Bank Mellat. Iran Fara Bourse, an over-the-counter (OTC) cryptocurrency exchange, will reportedly list the new cryptocurrency. The director of Kuknos, the blockchain company taking care of the technical aspects,  said that the new crypto asset is a way to tokenize assets and excess properties of the banks.  A billion PayMon tokens will be initially released,

[AquaX]

According to a recent report, the Islamic Republic of Iran has launched a Gold-Backed cryptocurrency called “PayMon”. The new crypto is launched in a collaboration with four major financial institutions. approximately one billion PayMon tokens will be issued initially. Later on, the central bank of Iran will issue PayMon to all its registered citizens. This development is coming right after the Central Bank of Iran presented a regulation draft on cryptocurrencies, recognizing bitcoin (BTC) as a legal asset.

[Paha87]

Will it be a good cryptocurrency only for Iran or will it be good for the rest of the world?

This news will undoubtedly cause a lot of positive emotions from the crypto community. I think globally will not affect the cryptocurrency market, but in General, every positive news is very good for the future of the crypto market.

[pelana vreo]

I have seen many banks reject the payment system and using crypto transactions, but if we want to look ahead, there will be many new banks that will support cryptocurrency, we can only wait for the right time for everything to be realized, the steps for the long-term plan It is good that Iran has prepared a plan if there will be international crypto transactions because the progress of blockchain technology has expanded in every country

[TopaNN]

The Islamic Republic of Iran recently launched a gold-backed crypto coin called the Peyman. It has come about due to cooperation between the Ghoghnoos Company and four banks. These four banks are Bank Pasargad, Persian Bank, Bank Mellat, and Bank Melli. The Iran Fara Bourse, which is an OTC exchange, will also host the new crypto coin according to the Iranian English language Financial Tribune.

[Paha87]

Guys, I'm begging you. Don't write the same news. Four people wrote the same thing for what?