Iran Launches Gold-Backed Stablecoin Amidst US Sanctions (ethereumworldnews.com)
Iran is determined to find a way to prosper amid the unilateral sanctions imposed by the U.S. government, and the political team of Hasan Rohaní, president of the Persian country, is relying on the use of blockchain technologies as a way to counter U.S. influence in the world of international finance.
To ensure the proper functioning of the stablecoin as a currency, the Iranian government and Kuknos made alliances with 4 banks: Mellat, Melli Iran, Pasargad and Parsian Bank.
This first stablecoin is like the antechamber to a more ambitious project in which Iran hopes to develop and implement the free circulation of fiat-backed crypto, which could be used by ordinary citizens and banks in financial operations.
The Sovereign Crypto Currency Project gained strength after the United States unilaterally decided to maintain economic sanctions against the country, pressuring the SWIFT system to remove Iranian banks from its platform.
“Representatives from Switzerland, South Africa, France, England, Russia, Austria, Germany, and Bosnia have visited Iran to hold related talks about the issue,”.
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Related story: Bitcoin Approaches $3,500 As Top Cryptos See Mixed Signals (cointelegraph.com)
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