According to a recent report by blockchain analytics firm Elliptic, the Central Bank of Iran (CBI) has acquired approximately $507 million worth of USDt (Tether) in a concerted effort to support the depreciating Iranian Rial (IRR). This significant acquisition highlights Iran’s increasing reliance on stablecoins as a tool for managing its foreign exchange reserves and circumventing stringent international economic sanctions, particularly those imposed by the U.S.
Elliptic’s analysis suggests that the funds were moved through various channels and affiliated entities, allowing the CBI to gain access to dollar-denominated assets outside the traditional banking system. The primary goal of this maneuver is to inject liquidity into the local currency market, thereby attempting to stabilize the IRR, which has suffered extreme depreciation due to hyperinflation and geopolitical pressure. The use of USDt, a stablecoin pegged 1:1 to the U.S. dollar, provides Iran with a crucial mechanism to conduct cross-border transactions and store value where conventional access to fiat currencies is restricted. This strategy underscores the evolving role of cryptocurrency in state-level financial operations, particularly among nations facing severe economic isolation.
Source: Iran‘s central bank acquired $507M in USDt to prop up rial: Elliptic
コメント