Iran places 1st import order using cryptocurrency

Alireza Peymanpak

Xinhua News

9th August 2022 – (Tehran) Iran has placed its first import order using cryptocurrency, a senior Iranian trade official announced on Tuesday.

“This week, the first official import order was successfully placed with cryptocurrency worth 10 million (U.S.) dollars,” tweeted Iranian Deputy Minister of Industry, Mine and Trade Alireza Peymanpak, who is also president of the Iran Trade Promotion Organisation (ITPO).

“By mid-September, the use of cryptocurrencies and smart contracts will be widespread in Iran’s foreign trade with the target countries,” he said.

ITPO official Ahmad Salehi said last week that the Iranian central bank and the industry ministry aim to use cryptocurrency to facilitate Iran’s foreign trade, the Eghtesadonline news website reported.