Wednesday, July 16, 2025
LBNN
  • Business
  • Markets
  • Politics
  • Crypto
  • Finance
  • Energy
  • Technology
  • Taxes
  • Creator Economy
  • Wealth Management
  • Documentaries
No Result
View All Result
LBNN

Is This a CBDC Game-Changer?

Simon Osuji by Simon Osuji
November 26, 2024
in Business
0
Is This a CBDC Game-Changer?
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

Iran’s Digital Rial enters the digital currency adoption space with the Central Bank of Iran’s launch announcement. The CBDC Iran project updates the country’s money system. The Iran Digital Rial aims to boost financial operations despite international restrictions. This change shows Iran’s push toward modern banking and financial independence through digital innovation.

Also Read: AI Sets PEPE Price For Thanksgiving 2024

Unveiling Iran’s Digital Rial: A Leap in Central Bank Digital Currency

Testing Digital Currency Adoption

The Central Bank Digital Currency test on Kish Island proves CBDC Iran works well. People now use digital wallets instead of regular banking, marking real progress in digital currency adoption. Iran’s cryptocurrency system lets users send money directly. The Shetab system handles payments in two seconds. Both visitors and locals like using this new payment option. The system’s success shows strong potential for wider implementation across the country.

Infrastructure Development

CBI Governor Mohammad Reza Farzin states, “Developing innovative banking systems is a central bank’s responsibility worldwide, and we are determined to fulfill this duty in Iran.” The system works on its own, without old banking rules. It makes payments faster and safer. The network now handles millions of payments at once, putting Iran among the top digital payment countries in the region. Technical improvements continue to enhance system reliability and user experience.

Also Read: Ripple: 3 Reasons Why XRP Could Surge To $5

International Integration

The ACU-MIR system shows Iran’s push for Central Bank Digital Currency growth. Farzin explains: “Sanctions remain a significant hurdle, but we’ve made notable strides in recent years. We’ve replaced SWIFT with this platform and strengthened our ties with BRICS, which is shaping global trade with a strategic plan through 2025.” More countries now accept this payment method, marking a shift in regional financial dynamics.

Iran and Russia’s payment systems now work together. Russian tourists will use Iran’s system this winter, and Iranian travelers will use Russian payment points by 2025. This teamwork helps both countries trade better and shows how digital currency adoption can work between nations. The project could lead to more countries joining the system, creating a broader network of digital payment cooperation across the region.

Also Read: Crypto Chaos: PNUT Token Owner Sparks Lawsuit Against the Community

Source link

Related posts

Africa Investor Launches G20 Nature Investment Roadmap 2.0 and GEMs 3.0 Institutional Investor Survey at LCAW

Africa Investor Launches G20 Nature Investment Roadmap 2.0 and GEMs 3.0 Institutional Investor Survey at LCAW

July 15, 2025
Top 20 Fastest Growing Startups in Africa to Watch in 2025

Top 20 Fastest Growing Startups in Africa to Watch in 2025

July 15, 2025
Previous Post

Canadian Firm Takes Operatorship of South Africa’s Offshore Block

Next Post

Stilfontein’s dangerous and desperate illegal mining industry

Next Post
Stilfontein’s dangerous and desperate illegal mining industry

Stilfontein’s dangerous and desperate illegal mining industry

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

Dubai Islamic Bank starts selling 5-year sustainable sukuk

Dubai Islamic Bank starts selling 5-year sustainable sukuk

1 year ago
AI model instantly generates 3D image from 2D sample

AI model instantly generates 3D image from 2D sample

2 years ago
The D Brief: More loose lips; Troops get detention powers; State’s coming cuts; Primes’ aircraft plans; And a bit more.

The D Brief: More loose lips; Troops get detention powers; State’s coming cuts; Primes’ aircraft plans; And a bit more.

3 months ago
Will XRP Hit $2 In December 2024?

Will XRP Hit $2 In December 2024?

8 months ago

POPULAR NEWS

  • Ghana to build three oil refineries, five petrochemical plants in energy sector overhaul

    Ghana to build three oil refineries, five petrochemical plants in energy sector overhaul

    0 shares
    Share 0 Tweet 0
  • When Will SHIB Reach $1? Here’s What ChatGPT Says

    0 shares
    Share 0 Tweet 0
  • The world’s top 10 most valuable car brands in 2025

    0 shares
    Share 0 Tweet 0
  • Top 10 African countries with the highest GDP per capita in 2025

    0 shares
    Share 0 Tweet 0
  • Global ranking of Top 5 smartphone brands in Q3, 2024

    0 shares
    Share 0 Tweet 0
  • Privacy Policy
  • Contact

© 2023 LBNN - All rights reserved.

No Result
View All Result
  • Home
  • Business
  • Politics
  • Markets
  • Crypto
  • Economics
    • Manufacturing
    • Real Estate
    • Infrastructure
  • Finance
  • Energy
  • Creator Economy
  • Wealth Management
  • Taxes
  • Telecoms
  • Military & Defense
  • Careers
  • Technology
  • Artificial Intelligence
  • Investigative journalism
  • Art & Culture
  • Documentaries
  • Quizzes
    • Enneagram quiz
  • Newsletters
    • LBNN Newsletter
    • Divergent Capitalist

© 2023 LBNN - All rights reserved.