Iran's Central Bank Buys $507 Million in USDT to Support Rial

Iran's Central Bank Buys $507 Million in USDT to Support Rial

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by Lucas Weissmann

10 months ago

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Recent revelations from blockchain analytics firm Elliptic indicate that the Central Bank of Iran has amassed a significant amount of the US dollar stablecoin Tether (USDT), totaling at least $507 million. This strategic move appears to be a response to ongoing economic challenges and sanctions faced by the country. The publication provides the following information:

USDT Accumulation by the Central Bank

The accumulation of USDT primarily took place in April and May 2025, with the Central Bank utilizing Emirati dirhams for these transactions. This approach highlights Iran's efforts to navigate around international sanctions that have severely impacted its economy.

Impact of the Iranian Rial's Decline

The Iranian rial has experienced a dramatic decline, losing approximately half of its value within a year. By investing in USDT, the Central Bank aims to stabilize its financial operations and mitigate the effects of the rial's depreciation. This strategy underscores the increasing role of cryptocurrencies in state financial management, particularly for nations facing economic isolation.

In a related development, reports indicated that Iran's Central Bank had acquired over 500 million USDT between April and May 2025, aiming to stabilize the rial amid economic sanctions. For more details, see further information.

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