🇮🇷 Iran inches closer to unveiling state-backed cryptocurrency
Iran is set to join Saudi Arabia and the UAE as the third Middle Eastern country with a national digital currency. Tehran is expected to announce a rial-backed digital token on Jan. 29, 2019 at the Electronic Banking and Payment Systems conference. The token will be controlled by the central bank and not minable. Iran was barred from the global payment system SWIFT in Nov. 2018 and has since signed a tri-part pact with Russia and Armenia to investigate a blockchain-based alternative to SWIFT.
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