Crypto-Rial in Pre-Test Phase

The Central Bank of Iran has launched a pre-test phase of the Crypto-Rial, the central bank digital currency, the governor said Wednesday. 

“At this phase, Bank Melli Iran and Bank Mellat have started distributing restricted amounts of crypto-rial to some people…two shops have also started accepting the Crypto-Rial,” Ali Salehabadi was quoted as saying by the state-broadcaster, IRIB, on Wednesday. 

The test phase should help the CBI identify issues in using the new currency. Salehabadi said the pilot phase is likely to be launched soon.